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10 Jul 2013
GBP/USD falls to support
FXstreet.com (New York) - The GBP/USD recovery stalled yesterday at 1.4875, grinding lower during Asian trading and tight roping a critical juncture that has already threatened to unravel the foreign exchange rate.
In these moments, the GBP/USD is currently situated at 1.4856, incurring a loss of -0.07%. Technically speaking, the Danske Research Ream points to supportive means at the 1.4855 region, ahead of 1.4832.
GBP/USD unable to gain foothold
Earlier today, the GBP/USD fell to a fresh 3-year low of 1.4812 on the back end of an earlier UK data release and a falling EUR. According to Valeria Bednarik, an analyst at FXstreet.com, “In the hourly chart, the price developed below the 20 SMA, while indicators head south below their midlines, whilst maintaining the bearish bias for the short-term.”
In these moments, the GBP/USD is currently situated at 1.4856, incurring a loss of -0.07%. Technically speaking, the Danske Research Ream points to supportive means at the 1.4855 region, ahead of 1.4832.
GBP/USD unable to gain foothold
Earlier today, the GBP/USD fell to a fresh 3-year low of 1.4812 on the back end of an earlier UK data release and a falling EUR. According to Valeria Bednarik, an analyst at FXstreet.com, “In the hourly chart, the price developed below the 20 SMA, while indicators head south below their midlines, whilst maintaining the bearish bias for the short-term.”