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Forex: GBP/USD consolidates around 1.6150

By FXstreet.com,  January 10, 2013, 03:50:00 PM EDT

FXstreet.com (San Francisco) - The Sterling is trading in consolidation mode after the latest bullish movement from 1.6035 to the intra-day high at 1.6170. Currently the GBP/USD is moving around 1.6150.

"Launching off of support via the 1.6025 barrier, GBPUSD looks to close above resistance via the 1.6100 round figure," comments FXstreet.com analyst Richard Lee. "As a result, the setup opens scope for an extension higher towards 1.6200 in the overnight."

Next resistances are at 1.6170, 1.6200 and 1.6225. On the other side, supports come at 1.6125, 1.6100 and 1.6180.




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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