Forex: GBP/USD approaching 1.5400

on Jul 24, 2013
Listen Wednesday July 24th_: The GBP/USD yesterday rose for a seventh consecutive day to finish 0.07 percent up on the day, after closing at 1.5370. Earlier, a 22-day high was reached at 1.5391.

So far today the pair has been trading within yesterday’s range and is currently residing exactly at yesterday’s closing price.
Since 22 July the pair has been trading sideways within a 66-pip range and if the bulls don’t get their act together to breach the 1.5400 level, the price may drop to test the 1.5300 level.
Resistances today: 1.5370, 1.5390 and 1.5440.
Supports: 1.5325, 1.5275 and 1.5225.