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22 Oct 2013
GBP/USD stalled at 1.6140 front
FXstreet.com (Chicago) – GBP/USD extends parallel price action despite spikes to higher edges ahead of Wall Street’s closing.
Earlier data in the US was mixed with existing home sales (MoM) down to 5.29M vs. prior 5.29M and expected 5.30M. Data releases in the country are estimated to be delayed amid rumors of corruption as facts may not reflect real performance.
GBP/USD Technical Levels
Technically speaking, the pair continues stuck below the 1.6150 zone despite earlier spikes and several attempts to break away from the 1.6140 front. Technically speaking, the pair prints lower highs and lows, apparently stalling minutes away from Wall Street’s closing. Offered at 1.6146, the pair navigates between supports aligned at 1.6130 (session lows), 1.6094 (October 17th highs) ahead of 1.6058 (October 16th highs) and the resistances set at 1.6168 (session highs), 1.6196 (October 3rd lows) followed by 1.6225 (October 18th highs). Primary and secondary trends point to the grounds.
Earlier data in the US was mixed with existing home sales (MoM) down to 5.29M vs. prior 5.29M and expected 5.30M. Data releases in the country are estimated to be delayed amid rumors of corruption as facts may not reflect real performance.
GBP/USD Technical Levels
Technically speaking, the pair continues stuck below the 1.6150 zone despite earlier spikes and several attempts to break away from the 1.6140 front. Technically speaking, the pair prints lower highs and lows, apparently stalling minutes away from Wall Street’s closing. Offered at 1.6146, the pair navigates between supports aligned at 1.6130 (session lows), 1.6094 (October 17th highs) ahead of 1.6058 (October 16th highs) and the resistances set at 1.6168 (session highs), 1.6196 (October 3rd lows) followed by 1.6225 (October 18th highs). Primary and secondary trends point to the grounds.