Forex: GBP/USD under pressure after BOE

  @ibtimes on December 23 2009 6:37 PM

FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.5960. Rumors of further QE next year, early Europe with BOEs' minutes help to keep Gbp unable to regain the upside, and Pound enters Asian session trading in a very small range, still holding some intraday bearish tone.

Hourly indicators are flat while 4 hours charts show downside has room to extend in the pair manages to break under 1.5920 weekly low, as 20 SMA remains bearish and above current price, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.5920 1.5880 1.5820. Resistance levels: 1.5980 1.6010 1.6060.

.

Join the Discussion