More from FXstreet.com

Forex Flash: GBP/USD favored to ease towards key support at 1.5830 - Commerzbank

By FXstreet.com,  January 08, 2013, 04:10:00 AM EDT

FXstreet.com (Barcelona) - The market seems to be "finding some temporary support at the 6 month uptrend drawn from the July 2012 low", at 1.6017, and the GBP/USD is bouncing from the selloff very near term, with resistance at 1.6150 and 1.6232/1.6308.

"The market is viewed as having topped out last week - it reversed just ahead of the 1.6452 2009-2013 downtrend and together with the large divergence of both the daily and weekly RSI's, suggests that the market has topped", wrote analyst Karen Jones, favoring a break lower to the 1.5830 November low and key support (55 and 200 week MA) after losing the 1.5942 handle, 7 month uptrend.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

Johnson: Fed Still Has Room to Run
Johnson: Fed Still Has Room to Run  
Onboard Video Shows Plane Emergency Landing
Onboard Video Shows Plane Emergency...
Islamist Attackers Kill 20 at Niger Military Base
Islamist Attackers Kill 20 at Niger...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.21 0.10  0.75%
HPQ $ 24.86 3.63  17.10%
SIRI $ 3.545 0.01  0.28%
MU $ 11.39 0.47  4.30%
MSFT $ 34.15 0.46  1.33%
F $ 14.81 0.16  1.07%
QQQ $ 73.45 0.17  0.23%
GE $ 23.66 0.20  0.84%