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19 Aug 2013
GBP/USD settles in a range
FXstreet.com (Córdoba) - Even though the GBP/USD managed to reach a fresh 2-month high during the European session, it lacked momentum to stage a decisive rally and settled in a range.
GBP/USD enters a consolidation phase
GBP/USD peaked at 1.5672 underpinned by the EUR/USD spike, but lost momentum and entered in a consolidation phase over the last hours, unable to set a fresh direction. At time of writing, GBP/USD is trading at the 1.5640 area, where it is virtually unchanged since opening.
GBP/USD: Downside limited
Valeria Bednarik, chief analyst at FXstreet.com notes that the Cable looks technically positive according to the hourly chart, but far from showing signs of a soon acceleration. “In the 4 hours chart the picture is quite alike, positive but weak; however, pullbacks will likely remain limited and seen as buying opportunities”, the analyst said.
GBP/USD enters a consolidation phase
GBP/USD peaked at 1.5672 underpinned by the EUR/USD spike, but lost momentum and entered in a consolidation phase over the last hours, unable to set a fresh direction. At time of writing, GBP/USD is trading at the 1.5640 area, where it is virtually unchanged since opening.
GBP/USD: Downside limited
Valeria Bednarik, chief analyst at FXstreet.com notes that the Cable looks technically positive according to the hourly chart, but far from showing signs of a soon acceleration. “In the 4 hours chart the picture is quite alike, positive but weak; however, pullbacks will likely remain limited and seen as buying opportunities”, the analyst said.