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9 Aug 2013
GBP/USD closes out week stable over 1.5500
FXstreet.com (New York) - The GBP/USD foreign exchange rate managed to stabilize above the 1.5500 region Friday, despite briefly dipping below this figure earlier today (1.5497).
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD stabilized around the 1.5550 levels but did not rebound to the downside from it which is good till now, as it maintained its positive trading. We need to see the pair stable above the referred to level now represented in 78.65% correction to push the pair further to the upside during the rest of the session. In any scenario, as long as the pair is stable above 1.5475, the possibility of the upside move remains intraday valid today.”
Technically speaking, the GBP/USD is now operating at 1.5509, still incurring losses of -0.17% Friday. On the downside, supports will hold the GBP/USD in check at 1.5489, ahead of 1.5443, and 1.5400.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD stabilized around the 1.5550 levels but did not rebound to the downside from it which is good till now, as it maintained its positive trading. We need to see the pair stable above the referred to level now represented in 78.65% correction to push the pair further to the upside during the rest of the session. In any scenario, as long as the pair is stable above 1.5475, the possibility of the upside move remains intraday valid today.”
Technically speaking, the GBP/USD is now operating at 1.5509, still incurring losses of -0.17% Friday. On the downside, supports will hold the GBP/USD in check at 1.5489, ahead of 1.5443, and 1.5400.