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GBP/USD testing the 1.5100 region

FXstreet.com (Barcelona) - The GBP/USD rallied ever so slightly of the 1.5082 level during European trading, recovering nearly 13 pips in recent moments to testing the 1.5100 barrier.

At the time of writing, the pair is now settling a marginal -0.02% off its opening Tuesday. The GBP/USD will face supportive measures at 1.5048, then 1.5017, and finally 1.4963. On the ascension, a movement above 1.5133 will initiate resistance at 1.5187 onto 1.5218, notes the Mataf.net analyst team.

According to the ICN.com Technical Analyst Team, “The GBP/USD failed to extend trading above 1.5130 and moved to the downside but remained limited above Linear Regression Indicators and breached key resistance level of the bearish. Ultimately, trading above 1.5035 is positive and might trigger an upside correction. We also find the stochastic supporting our expectations.”

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