21 Aug 2013
GBP/USD, swinging wildly
FXstreet.com (Chicago) - GBP/USD swings wildly between 1.5670 and 1.5680 zones as immediate support continues being violated. The pair soared to 1.5717 intraday highs to then touch bottom (American session) at 1.5664 post FOMC minutes.
FOMC minutes highlights
Among the highlights in the FOMC minutes, most members agreed changing the Fed’s asset purchases plan is not appropriate as US jobless rates have slowed “considerably” but other sectors remain modest.
Technical Levels
Technically speaking, the pair soared to 1.5717 highs but retraced quickly thereafter after the release of the FOMC minutes. The pair then fell to intraday lows (American session) at 1.5664 to finally stabilize around the 1.5670 zone. At 1.5684, the pair navigates close to immediate support at 1.5684 (June 6th highs) ahead of 1.5646 (August 16th highs) and 1.5600 (August 18th lows). On the upside, resistances are set at 1.5717 (June 13th highs), 1.5750 (June 17th highs) followed by 1.5800 (January 27th lows).
According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis accumulating 0.20% so far.
FOMC minutes highlights
Among the highlights in the FOMC minutes, most members agreed changing the Fed’s asset purchases plan is not appropriate as US jobless rates have slowed “considerably” but other sectors remain modest.
Technical Levels
Technically speaking, the pair soared to 1.5717 highs but retraced quickly thereafter after the release of the FOMC minutes. The pair then fell to intraday lows (American session) at 1.5664 to finally stabilize around the 1.5670 zone. At 1.5684, the pair navigates close to immediate support at 1.5684 (June 6th highs) ahead of 1.5646 (August 16th highs) and 1.5600 (August 18th lows). On the upside, resistances are set at 1.5717 (June 13th highs), 1.5750 (June 17th highs) followed by 1.5800 (January 27th lows).
According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis accumulating 0.20% so far.