29 Jan 2014
GBP/USD off lows
FXstreet.com (Córdoba) - The GBP/USD managed to bounce from 2-day lows during the New York session and erased intraday losses to trade nearly flat on the day as investors await the Fed monetary policy decision.
The GBP/USD found buyers at the 1.6525 zone and rebounded, although the recovery was shy as investors remain mostly sidelined in the absence of drivers ahead of the FOMC. At time of writing, the Cable is trading at the 1.6565 area, little changed since opening.
GBP/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the GBP/USD shows no strength either side of the board. "Sellers are now defending the 1.6600 area, while bearish momentum will likely surge on a break below 1.6530, recent lows".
Bednarik locates next support levels at 1.6530, 1.6490 and 1.6450, while she places resistances at 1.6610, 1.6535 and 1.6560.
The GBP/USD found buyers at the 1.6525 zone and rebounded, although the recovery was shy as investors remain mostly sidelined in the absence of drivers ahead of the FOMC. At time of writing, the Cable is trading at the 1.6565 area, little changed since opening.
GBP/USD technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the GBP/USD shows no strength either side of the board. "Sellers are now defending the 1.6600 area, while bearish momentum will likely surge on a break below 1.6530, recent lows".
Bednarik locates next support levels at 1.6530, 1.6490 and 1.6450, while she places resistances at 1.6610, 1.6535 and 1.6560.