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31 Oct 2013
GBP/USD keeps winning; consolidates 1.6050 front
FXstreet.com (Chicago) - GBP/USD remains bullish extending the bullish channel that started earlier in the day. This week’s results evidenced the US economy has cracks that need to be fixed before the Fed starts tapering.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.6056 and oscillates between the supports aligned at 1.6018 (October 14th highs), 1.5951 (October 14th lows) followed by 1.5916 (October 15th lows) and the resistances set at 1.6085 (October 28th lows), 1.6125 (October 23rd lows) ahead of 1.6179 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20. Although weekly losses account for 0.64% so far, the pair erases them partially.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.6056 and oscillates between the supports aligned at 1.6018 (October 14th highs), 1.5951 (October 14th lows) followed by 1.5916 (October 15th lows) and the resistances set at 1.6085 (October 28th lows), 1.6125 (October 23rd lows) ahead of 1.6179 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20. Although weekly losses account for 0.64% so far, the pair erases them partially.