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26 Aug 2013
GBP/USD loses momentum and dips below 1.5600
FXstreet.com (Córdoba) - The GBP/USD lost momentum and pulled back from daily highs, as the USD weakness ebbed after the initial reaction to dismal US data.
GBP/USD back below 1.5600
The 1.5610 resistance area halted the GBP/USD advance sending the pair back below the 1.5600 mark most recently. GBP/USD is currently trading at the 1.5580 area, where it holds onto a 0.1% gain on Monday.
GBP/USD key levels
“Steady gains above 1.5610 may see the pair advancing further if current levels hold, yet a break below 1.5550 should lead to a new bearish leg towards fresh monthly lows”, said Valeria Bednarik, chief analyst at FXstreet.com. Meanwhile, the analyst locates immediate resistance levels at 1.5610, 1.5640 and 1.5690, while she places supports at 1.5550, 1.5520 and 1.5480.
GBP/USD back below 1.5600
The 1.5610 resistance area halted the GBP/USD advance sending the pair back below the 1.5600 mark most recently. GBP/USD is currently trading at the 1.5580 area, where it holds onto a 0.1% gain on Monday.
GBP/USD key levels
“Steady gains above 1.5610 may see the pair advancing further if current levels hold, yet a break below 1.5550 should lead to a new bearish leg towards fresh monthly lows”, said Valeria Bednarik, chief analyst at FXstreet.com. Meanwhile, the analyst locates immediate resistance levels at 1.5610, 1.5640 and 1.5690, while she places supports at 1.5550, 1.5520 and 1.5480.