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Forex: GBP/USD trading near session highs of 1.5149/50

FXstreet.com (Barcelona) - The GBP has gradually recovered off the 1.5060 level (intraday minimum) incurred during European trading. Having managed to pare its losses Wednesday, the cross has streamed ahead to session highs at 1.5160, though has eased slightly to 1.5149/50.

Briefing the technicals, the GBP/USD is slated to face calculated resistance at 1.5200, onto 1.5318, and finally 1.5378. Conversely, any attempt or subsequent movement lower will encounter means of support at 1.5024, then 1.4964 and finally the 1.4867 barrier, notes the Mataf.net analyst team.

“The GBP/USD failed to hold below the 1.5100 level, weakening the possible bearish wave but didn’t cancel it. Prolonged stability below 1.5190 forces us to hold on to our negative expectations, pointing out that stability above the mentioned resistance might push the pair higher and fail the intraday bearish move.” notes the ICN.com analyst team.

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