9 Jun 2015
GBP/USD takes a breather below 1.5400
FXStreet (Córdoba) - GBP/USD staged a nice comeback during the New York session and turned positive for the day during the American afternoon.
GBP/USD rose sharply from a daily low of 1.5256 to a 5-day peak of 1.5388 with no clear catalysts for the rally, although it lost momentum ahead of the 1.5400 psychological level. The pair has spent the last hours consolidating in a slim range near highs and it was last up 0.20% at 1.5376.
GBP/USD technical perspective
“Technically, the 1 hour chart shows that the price consolidates in a tight range near the daily high, having advanced sharply above its 20 SMA, while the technical indicators are losing upward strength in positive territory”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the price has been moving back and forth around horizontal moving averages, which reflects the clear lack of directional strength, whilst the technical indicators are losing upward potential above their midlines. Nevertheless a price acceleration above 1.5400 should open doors for a firmer advance during the upcoming sessions”.
GBP/USD rose sharply from a daily low of 1.5256 to a 5-day peak of 1.5388 with no clear catalysts for the rally, although it lost momentum ahead of the 1.5400 psychological level. The pair has spent the last hours consolidating in a slim range near highs and it was last up 0.20% at 1.5376.
GBP/USD technical perspective
“Technically, the 1 hour chart shows that the price consolidates in a tight range near the daily high, having advanced sharply above its 20 SMA, while the technical indicators are losing upward strength in positive territory”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the price has been moving back and forth around horizontal moving averages, which reflects the clear lack of directional strength, whilst the technical indicators are losing upward potential above their midlines. Nevertheless a price acceleration above 1.5400 should open doors for a firmer advance during the upcoming sessions”.