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Forex: GBP/USD trading positively at 1.5111/15

FXstreet.com (Barcelona) - The GBP/USD has crept up after bottoming out in the 1.5076 region (session low) during European trading Wednesday. After some soft economic data earlier today out of the UK, the pair managed to drift higher into positive territory to trade at 1.5111/15 in these moments.

At this juncture the cross is operating a modest +0.6% above its opening. ICN.com analysts identify corrective measures of resistance 1.5145, then 1.5190, and finally the 1.5225 handle. Conversely, supports for the GBP/USD will initiate at 1.5080 onto 1.5035 and ultimately 1.4990.

According to the ICN.com Technical Analyst Team, “The GBP/USD dropped and is currently trading around 1.5080 levels after failing to stable above 1.5190 earlier. The bearish move might extend as the stochastic offers overbought signals – trading below 1.5190 is negative now while stability below 1.5145 is further supports negativity.

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