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14 Aug 2013
GBP/USD capped below 1.55 following UK CPI
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted at 1.5448, little changed from previous Asia-Pacific open yesterday, although slightly in the negative, and despite the wide trading range of today topping at 1.5516 with lows at 1.5424, following UK CPI in line with expectations.
GBP/USD maintains a neutral stance
“The GBP/USD ended up being benefited by EUR weakness with EUR/GBP selloff, but quickly stabilizing at current levels,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Despite a slightly bearish tone, the pair maintains a pretty neutral stance with hourly indicators still too close to their midlines to signal a trend. In the 4 hours chart, technical indicators turned flat below their midlines, with 20 SMA capping the upside at 1.5470.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5430, 1.5390 and 1.5350, while resistance levels at: 1.5470, 1.5520 and 1.5550.
GBP/USD maintains a neutral stance
“The GBP/USD ended up being benefited by EUR weakness with EUR/GBP selloff, but quickly stabilizing at current levels,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Despite a slightly bearish tone, the pair maintains a pretty neutral stance with hourly indicators still too close to their midlines to signal a trend. In the 4 hours chart, technical indicators turned flat below their midlines, with 20 SMA capping the upside at 1.5470.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5430, 1.5390 and 1.5350, while resistance levels at: 1.5470, 1.5520 and 1.5550.