by Thu, 28 Oct 2010 02:38:00 +0200
Forex: GBP/USD holds gains nearing 1.5800
FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.5781. Despite losing some ground, Pound managed to hold inside past Tuesday’s range, entering Asia just above 1.5770 static resistance zone; moving averages in the hourly chart are flat, giving no clear bias for upcoming hours.
“While indicators are nearing their midlines also sacking strength; at this point breakouts will be the key in the upcoming hours: pair need either to regain 1.5870 or lose 1.5720 support area, to trigger more interesting rallies today,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 1.5770 1.5720 1.5680. Resistance levels: 1.55820 1.5870 1.5920.
| Technical Analysis (2010-10-28 00:30 GMT) | |
|---|---|
GBP/USD 1.57747/1.57785 - O: 1.5702 H: 1.5706 L: 1.5684 C: 1.5688 | |
| Trend | R3: 1.5855 |
 | R2: 1.5815 |
| R1: 1.5776 | |
| S1: 1.5693 | |
| S2: 1.5733 | |
| S3: 1.5772 | |
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