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Forex: GBP/USD capped below 1.5880 in Asia

By FXstreet.com,  March 25, 2012, 08:46:00 PM EDT

FXstreet.com (San Francisco) - GBP/USD continues to operate in consolidation mode below the 1.5900 mark, bracketed between 1.5867 and 1.5880 during the first few hours of the global trading day this Monday, last at 1.5878 with resistance at 1.5890, 1.5920 and 1.5955; support levels lie at 1.5860, 1.5810 and 1.5770.

The pair is "Mostly unchanged from Friday's close… with hourly indicators losing momentum above their midlines, yet 20 SMA showing a strong bearish slope and offering support around 1.5850," says Valeria Bednarik, Chief Analsyt at FXstreet.com. "In the 4 hours chart the pair presents a limited bullish momentum, as per price above a flat 20 SMA and momentum crossing downside up its 100 level. Still unless a clear break above the 1.5920 strong static resistance area, the upside seems limited."




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

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