Our best spreads and conditions
Learn more
Forex News
Back
Jun 3, 2013
GBP/USD soars to session highs at 1.5280/86
FXstreet.com (Barcelona) - The "http://www.fxstreet.com/technical/currencies-glance/pair.aspx?id=gbp/usd">GBP/USD is establishing fresh session highs Monday at 1.5280/86, sailing higher at a rate of +0.48% above it’s opening presently after upbeat UK data.
In the United Kingdom, Markit Manufacturing PMI (May) yielded a figure of 51.3, vs. a projection of 50.2. Technically speaking, after exceeding the 1.5257 resistance, the Mataf.net analyst team identifies the next means of resistive correction at 1.5299, followed by 1.5375. On the pullback, a break below 1.5157 will foster supportive measures at 1.5099 and 1.5057.
According to the Technical Analyst Team at ICN.com, “The GBP/USD moved to the upside last week and is currently stabilizing close to 38.2% correction at 1.5235. Moreover, the stochastic offers overbought signals and RSI is entering a sideways range close to 50, these signals might cause some bearish correction. Nevertheless, as far as areas of 1.5110 hold the possibility of extending the upside correction is valid during this week to test 1.5310 and 1.5380 respectively.”
In the United Kingdom, Markit Manufacturing PMI (May) yielded a figure of 51.3, vs. a projection of 50.2. Technically speaking, after exceeding the 1.5257 resistance, the Mataf.net analyst team identifies the next means of resistive correction at 1.5299, followed by 1.5375. On the pullback, a break below 1.5157 will foster supportive measures at 1.5099 and 1.5057.
According to the Technical Analyst Team at ICN.com, “The GBP/USD moved to the upside last week and is currently stabilizing close to 38.2% correction at 1.5235. Moreover, the stochastic offers overbought signals and RSI is entering a sideways range close to 50, these signals might cause some bearish correction. Nevertheless, as far as areas of 1.5110 hold the possibility of extending the upside correction is valid during this week to test 1.5310 and 1.5380 respectively.”