19 Jul 2013
GBP/USD opens above 1.5200
FXstreet.com (London) - GBP/USD has walked to 1.5200 again from the European shift/ holding in NA and the Asian cross-overs.
GBP/USD has had a good week, starting with BoE showing Carneys is in control and has all the 9 MPC members on side. Bernanke spoke and nothing new emerged, but did clarify timings of tapering will be data dependent. US data was overall mixed, but the dollar remains king.
GBP/USD a bearish bias
GBP/USD is trading well below the 1.5300/05 resistance area and the Elliot wave counts on the 240 minute chart indicate the possibility the pair will falter at the July highs and offers could come in to bring the pair back towards
1.4840 area 1.5530/80 and the 200 day ma marks the target if 1.5300 handles are breached and subsequent closes above.
GBP/USD has had a good week, starting with BoE showing Carneys is in control and has all the 9 MPC members on side. Bernanke spoke and nothing new emerged, but did clarify timings of tapering will be data dependent. US data was overall mixed, but the dollar remains king.
GBP/USD a bearish bias
GBP/USD is trading well below the 1.5300/05 resistance area and the Elliot wave counts on the 240 minute chart indicate the possibility the pair will falter at the July highs and offers could come in to bring the pair back towards
1.4840 area 1.5530/80 and the 200 day ma marks the target if 1.5300 handles are breached and subsequent closes above.