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8 Oct 2013
GBP/USD jumps back above 1.6080 zone
FXstreet.com (Chicago) - GBP/USD lost the 1.61 zone after reaching 1.6126 session highs. Attempting to consolidate above the 1.6080 zone, the pair retraces 0.09% for the day and remains 0.47% stronger than the greenback for this week.
Earlier in the US, weaker than expected results were released with the NFIB business optimism index down at 93.9 vs. expected 95.2 amid a political crisis that carries on. Rumors spread on potential bill introduction on behalf of republicans to establish a house/senate working group on the debt deficit with hard deadlines next October 19th.
GBP/USD Technical Levels
Price action reveals a pair that finds grounds after fall from 1.6126 session highs in the afternoon of the American trading session. Extending an upward trendline originated last July 8th, the pair prints 1.6019 session lows on highly volatile day. Offered at 1.6078, it oscillates between supports aligned at 1.6014 (September 20th lows), 1.5953 (September 24th lows) ahead of 1.5876 (September 17th lows) and resistances set at 1.6095 (September 26th highs), 1.6158 (September 18th highs) followed by 1.6259 (September 29th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.
Earlier in the US, weaker than expected results were released with the NFIB business optimism index down at 93.9 vs. expected 95.2 amid a political crisis that carries on. Rumors spread on potential bill introduction on behalf of republicans to establish a house/senate working group on the debt deficit with hard deadlines next October 19th.
GBP/USD Technical Levels
Price action reveals a pair that finds grounds after fall from 1.6126 session highs in the afternoon of the American trading session. Extending an upward trendline originated last July 8th, the pair prints 1.6019 session lows on highly volatile day. Offered at 1.6078, it oscillates between supports aligned at 1.6014 (September 20th lows), 1.5953 (September 24th lows) ahead of 1.5876 (September 17th lows) and resistances set at 1.6095 (September 26th highs), 1.6158 (September 18th highs) followed by 1.6259 (September 29th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.