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12 Nov 2014
GBP/USD trading slightly higher today at 1.5930 levels - FXStreet
FXStreet (Barcelona) - Omkar Godbole, FXStreet Analyst notes that GBP/USD finished higher at 1.5918 on Tuesday, after prices managed to sustain above the support level at 1.5840.
Key Quotes
"The pair is trading slightly higher today at 1.5930 levels, with the daily RSI bearish at 41.85 levels. On the hourly chart, the pair is struggling around 1.5940 levels, while the hourly RSI has turned lower from the overbought zone."
"Moreover, the pair has a resistance of 10-day moving average located at 1.5935 levels. A fresh demand for Pounds can be anticipated once the pair confirms a breach of 1.5940-1.5950 levels on the hourly chart."
"In such a case, the pair could rise to 1.6 levels. However, the pair is more likely to re-test 1.5880 levels today since the prices are struggling to rise above 1.5940 levels."
Key Quotes
"The pair is trading slightly higher today at 1.5930 levels, with the daily RSI bearish at 41.85 levels. On the hourly chart, the pair is struggling around 1.5940 levels, while the hourly RSI has turned lower from the overbought zone."
"Moreover, the pair has a resistance of 10-day moving average located at 1.5935 levels. A fresh demand for Pounds can be anticipated once the pair confirms a breach of 1.5940-1.5950 levels on the hourly chart."
"In such a case, the pair could rise to 1.6 levels. However, the pair is more likely to re-test 1.5880 levels today since the prices are struggling to rise above 1.5940 levels."