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8 Jul 2013
GBP/USD strongly capped below 1.4900
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last trading at 1.4833, off recent session lows at 1.4857, still slightly in the negative for the week so far from previous weekly close Friday.
GBP/USD presents a strong bearish momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com Cable maintains “the strong bearish tone seen on previous updates: the hourly chart shows indicators having already corrected some of their extreme oversold conditions and heading back south, while 20 SMA presents a strong bearish slope above current price. In the 4 hours chart technical readings present a strong bearish momentum which supports the shorter term view.”
GBP/USD key technical levels
Bednarik locates support levels at: 1.4860, 1.4830 and 1.4790, while resistance levels at: 1.4910, 1.4950 and 1.5000.
GBP/USD presents a strong bearish momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com Cable maintains “the strong bearish tone seen on previous updates: the hourly chart shows indicators having already corrected some of their extreme oversold conditions and heading back south, while 20 SMA presents a strong bearish slope above current price. In the 4 hours chart technical readings present a strong bearish momentum which supports the shorter term view.”
GBP/USD key technical levels
Bednarik locates support levels at: 1.4860, 1.4830 and 1.4790, while resistance levels at: 1.4910, 1.4950 and 1.5000.