Wednesday, August 26, 2009

Sterling still consolidating

Thu, Aug 27 2009, 02:27 GMT (Buenos Aires) – GBP/USD Current Price: 1.6230. Consolidating under the daily ascendant trend line broken past Wednesday indicators point for some upside correction in the next hours, thus general bias remains strongly bearish in the pair.

Bigger time frames also seem exhausted to the downside, thus 1.6275 resistance level will likely hold and made pair retreat. “Under 1.6200, further upside movements will be deny for current session, and pair likely to retest the 1.6160 area,” said Valeria Bednarik, collaborator at

Support levels: 1.6200 1.6160 1.6110. Resistance levels: 1.6275 1.6310 1.6350.

GBP/USD (Aug 27 at 03:41 GMT)

1.6216/19 (-0.08%)

H 1.6245 L 1.6208

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Aug 27 at 03:30 (15-minute timeframe)

[ View GBP/USD technical studies ]

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