Back
26 Aug 2013
GBP/USD consolidates below 1.5600
FXstreet.com (Edinburgh) -The sterling continues to correct lower after last week’s highs beyond 1.5700 the figure, with the GBP/USD now hovering around 1.5570/75 on Monday.
GBP/USD focus on Carney
Almost empty docket for the pound this week, with the biggest event being Governor M.Carney’s speech before the UK Parliament on Wednesday, enough to grab traders’ attention in light of the recent GBP upside. “Pound formed the first descending impulse, but wasn’t able to correct it. Right now, the market is inside a narrow consolidation channel and may leave it downwards to continue falling down. We think, today the price may reach the level of 1.5386 and then start a new ascending structure towards the target at 1.5890”, suggested Igor Sayadov, Strategist at RoboForex.
GBP/USD levels to watch
At the moment the pair is up 0.01% at 1.5567 with the next support at 1.5538 (low Aug.23) followed by 1.5516 (MA200d) and then 1.5504 (low Aug.15). On the upside, a breakout of 1.5590 (MA10d) would open the door to 1.5638 (high Aug.23) and then 1.5650 (high Aug.22).
GBP/USD focus on Carney
Almost empty docket for the pound this week, with the biggest event being Governor M.Carney’s speech before the UK Parliament on Wednesday, enough to grab traders’ attention in light of the recent GBP upside. “Pound formed the first descending impulse, but wasn’t able to correct it. Right now, the market is inside a narrow consolidation channel and may leave it downwards to continue falling down. We think, today the price may reach the level of 1.5386 and then start a new ascending structure towards the target at 1.5890”, suggested Igor Sayadov, Strategist at RoboForex.
GBP/USD levels to watch
At the moment the pair is up 0.01% at 1.5567 with the next support at 1.5538 (low Aug.23) followed by 1.5516 (MA200d) and then 1.5504 (low Aug.15). On the upside, a breakout of 1.5590 (MA10d) would open the door to 1.5638 (high Aug.23) and then 1.5650 (high Aug.22).