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GBP/USD rises above the 100-hour MA

By FXstreet.com,  July 11, 2012, 02:57:00 AM EDT

FXstreet.com (Barcelona) - Having found itself stuck below the 100-hour moving average on yesterday's trading and reached as low as 1.5478, the GBP/USD regained 1.5500 level and broke above the 100-hour MA on Wednesday to extend its gains up to 1.5537 high, for now.

Wednesday's light economic calendar will not have UK data to publish. A German 10-year debt auction targeting €5B will take place during the European morning. The previous auction saw yields at 1.52%.

Mataf.net analysts point to resistances at 1.5550, 1.5575 and 1.5625. On the downside, supports might be found at 1.5495, 1.5470 and 1.5400.




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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