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13 Jun 2013
GBP/USD breaks above 1.5700
FXstreet.com (Córdoba) - Following a consolidation phase, the GBP/USD picked up momentum and broke above the 1.5700 mark during the American session, climbing to its highest level in 4 months.
GBP/USD pierces the 200 DMA
GBP/USD took an important step as not only pierced the psychological level, but also rose past the 200-day SMA for first time since January. GBP/USD touched a high of 1.5735 before easing slightly and it is currently trading at the 1.5715 region, recording a 0.3% daily gain.
In terms of technical levels, next resistances could be found at 1.5735 (daily high) and 1.5765 (Feb 7 high) and 1.5800 (psychological level), while supports are seen at 1.5640 (daily low) and 1.5605/00 (100-day SMA/psychological level).
GBP/USD pierces the 200 DMA
GBP/USD took an important step as not only pierced the psychological level, but also rose past the 200-day SMA for first time since January. GBP/USD touched a high of 1.5735 before easing slightly and it is currently trading at the 1.5715 region, recording a 0.3% daily gain.
In terms of technical levels, next resistances could be found at 1.5735 (daily high) and 1.5765 (Feb 7 high) and 1.5800 (psychological level), while supports are seen at 1.5640 (daily low) and 1.5605/00 (100-day SMA/psychological level).