Fxstreet.com (Barcelona) - After opening the day at 1.4999, reach 3-months high at 1.5070 and 1.4840 as intra-day low, the GBP/USD is fighting for the 1.4900 key level. Currently, the pair is trading around 1.4890/1.4900 after falling 0.70% along the day.
According to Valeria Bednarik, FXstreet.com Collaborator, Cable is extremely oversold: Pair broke to the downside the ascendant channel seen in the last update, and reached the tough zone around 1.4850 in extreme over sold conditions in the hourly. Unable to break, the pair is back up, completing a pullback to the mentioned channel, 1.4930 will be first resistance zone to consider. Above it, 20 SMA still bearish around 1.4960 will be next one, followed by the congestion zone around 1.5000/20. Indicators point for further upside corrections, yet pair will need to regain the broken line to confirm further rises.
Bednarik provides us with her levels for today: Support levels: 1.4850 1.4810 1.4783. Resistance levels: 1.4930 1.4965 1.5000.
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