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Forex: GBP/USD testing the 1.5100 level during erratic trading

FXstreet.com (Barcelona) - The GBP/USD has continued its erratic pattern Tuesday, erasing its recent gains to turn back towards its opening levels during American trading. With this most recent move, an attempt at the upside was stymied at the 1.5130 level, whereby the pair extended downwards to the 1.5100 level.

Mataf.net analysts point to supports at 1.5073, ahead of 1.5039, and 1.5004. On the ascension, a break above 1.5142 will initiate resistances at 1.5177 and 1.5211.

“On an intraday basis, we prefer to see the pair hold above the 1.5085 region to further support the upside move – prolonged stability above this level will ultimately signal a break.” warns the ICN.com analyst team.

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