Tuesday, January 12, 2010

Pound holds the positive tonbove 1.6110

FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.6156. Capped under 1.6200, pair is losing upside momentum after renewed failure attempt of break above that level. Still pair holds a slightly bullish perspective as long as above 1.6100/10 support area, as 20 SMA in the hourly chart has a slightly positive slope, as well as 4 hours one.

Indicators show some upside exhaustion pointing for a corrective movement before next up leg. “Clear break under 1.6060 will deny further upside chances and likely turn the intraday trend bearish,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6110 1.6060 1.6010. Resistance levels: 1.6160 1.6195 1.6230.

GBP/USD (Jan 13 at 05:24 GMT)

1.6184/88 (0.14%)

H 1.61928 L 1.6133

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Jan 13 at 04:53 (15-minute timeframe)

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