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May 30, 2013
GBP/USD trading at 1.5172 resistance
FXstreet.com (Barcelona) - The GBP/USD recently traded in the heights of 1.5187 (session high) Thursday, as this region proved to temporarily cap any additional upside for now.
At the time of writing, the GBP/USD is slightly below its highs at 1.5172/76, operating at +0.28% above its opening. Mataf.net analysts point to resistive means for pair at 1.5172, onto 1.5228, and ultimately 1.5310. Conversely, a break below the 1.5034 mark will initiate short-term supports at 1.4952 and 1.4896.
“The GBP/USD entered a bullish wave whereas it failed to break 1.4995 several times and we see it stabilizing now above 1.5130 levels. The previous catalysts forces us to think that the pair has entered an upside move to test the previously broken ascending channel. Additionally, prolonged stability above Linear Regression Indicator 34 weakens the pair’s response to the negativity of Linear Regression Indicators.” notes the ICN.com Technical Analyst Team.
At the time of writing, the GBP/USD is slightly below its highs at 1.5172/76, operating at +0.28% above its opening. Mataf.net analysts point to resistive means for pair at 1.5172, onto 1.5228, and ultimately 1.5310. Conversely, a break below the 1.5034 mark will initiate short-term supports at 1.4952 and 1.4896.
“The GBP/USD entered a bullish wave whereas it failed to break 1.4995 several times and we see it stabilizing now above 1.5130 levels. The previous catalysts forces us to think that the pair has entered an upside move to test the previously broken ascending channel. Additionally, prolonged stability above Linear Regression Indicator 34 weakens the pair’s response to the negativity of Linear Regression Indicators.” notes the ICN.com Technical Analyst Team.