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GBP/USD recovers the mark of 1.5238/41

FXstreet.com (Barcelona) - The GBP/USD took a tumble overnight, bottoming out earlier at 1.5229 (intraday low) during European trading – with a lack of drivers facing the pair, the cross continues to trade negatively.

According to the Technical Analyst Team at ICN.com, “The GBP/USD achieved two of the suggested targets of the bullish correction, and when the pair moved back to the downside it remained limited above 1.5220. Prolonged stability above 1.5220 represented in 50% correction gives the possibility of moving to the upside again.”

At the time of writing, the cross has recovered the mark 1.5238/41, still down -0.18% off its opening - the Mataf.net analyst team postulates the next means of support at 1.5207, followed by 1.5139, and ultimately 1.5082. Should the pair recover its losses, a movement above 1.5332 will initiate short-term supports for the GBP/USD at 1.5389, and 1.5457.

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