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18 Jun 2013
GBP/USD struggling with 1.5600
FXstreet.com (Córdoba) - After dipping to fresh weekly lows, GBP/USD managed to bounce and trimmed intraday losses as US stocks opened positively.
GBP/USD found support after hitting a 1-week low of 1.5564, although the recovery has been capped by the 1.5615 area so far, leaving the pair searching for direction in the vicinity of 1.5600, where it records a 0.8% loss.
GBP/USD holds the bearish tone
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that GBP/USD shows an increasing bearish momentum in short-term charts, and points for a challenge of the 1.5550 support. "A break below this latter should trigger stops and see further depreciation in the pair", Bednarik adds.
GBP/USD found support after hitting a 1-week low of 1.5564, although the recovery has been capped by the 1.5615 area so far, leaving the pair searching for direction in the vicinity of 1.5600, where it records a 0.8% loss.
GBP/USD holds the bearish tone
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that GBP/USD shows an increasing bearish momentum in short-term charts, and points for a challenge of the 1.5550 support. "A break below this latter should trigger stops and see further depreciation in the pair", Bednarik adds.