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12 Aug 2013
GBP/USD contained by 100-hour SMA
FXstreet.com (Córdoba) - The GBP/USD extended its correction on Monday and retreated further from its 7-week high scored last week as the greenback trim losses across the board.
GBP/USD consolidates between MA's
However, the setback of the GBP/USD was contained by the 100-hour SMA at the 1.5460 zone, confining the pair to a phase of consolidation, capped on the upside by the 20-hour SMA. At time of writing, GBP/USD is trading at the 1.5480 area, where it is a few pips below its opening price.
GBP/USD technical levels
As for technical levels, immediate supports could be found at 1.5460 (100-hour SMA) and 1.5435 (Jul 25 high), while on the other hand resistances are seen at 1.5520 (daily high), 1.5557 (Aug 9 high) and 1.5573 (Aug 8 high).
GBP/USD consolidates between MA's
However, the setback of the GBP/USD was contained by the 100-hour SMA at the 1.5460 zone, confining the pair to a phase of consolidation, capped on the upside by the 20-hour SMA. At time of writing, GBP/USD is trading at the 1.5480 area, where it is a few pips below its opening price.
GBP/USD technical levels
As for technical levels, immediate supports could be found at 1.5460 (100-hour SMA) and 1.5435 (Jul 25 high), while on the other hand resistances are seen at 1.5520 (daily high), 1.5557 (Aug 9 high) and 1.5573 (Aug 8 high).