Forex: GBP/USD trading at 1.5250

on Jul 4, 2013
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_iNVEZZ.com Thursday July 04th_: The pair rose 1.30 percent yesterday, with the high at 1.5303 touching the descending 200-hour simple moving average and the price subsequently retracing to close at 1.5280.

Currently in early European trading, the pair is changing hands at 1.5250, below the resistance level of 1.5275, where also lies the 23.6 percent Fibo retracement of 1.5750 to 1.5128. If support is found in the 1.5235/45 zone, the pair may increase towards the 1.5345 level of resistance.
In a bearish scenario the GBP/USD should target yesterday’s low of 1.5128.
Resistances: 1.5275, 1.5300 and 1.5345.
Supports: 1.5225, 1.5180 and 1.5128.
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GBP Forex