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9 May 2013
Forex: GBP/USD erases daily gains
FXstreet.com (Córdoba) - The British pound failed to sustain its BoE inspired gains and after facing resistance at the 1.5585, it slipped back to opening levels.
GBP/USD also failed to benefit from better-than-expected US jobless claims and it is currently trading at the 1.5540/50 zone, where it a few pips above its opening price.
From a technical level, Valeria Bednarik, chief analyst at FXstreet.com comments that to the upside, the key resistance level continues to be 1.5605, past week high and 50% retracement of the latest bearish run. "Steady gains above should anticipate a stronger upward continuation, targeting 1.5660/80 area in the short term, and towards 1.5770 over the days to come", says Bednarik.
GBP/USD also failed to benefit from better-than-expected US jobless claims and it is currently trading at the 1.5540/50 zone, where it a few pips above its opening price.
From a technical level, Valeria Bednarik, chief analyst at FXstreet.com comments that to the upside, the key resistance level continues to be 1.5605, past week high and 50% retracement of the latest bearish run. "Steady gains above should anticipate a stronger upward continuation, targeting 1.5660/80 area in the short term, and towards 1.5770 over the days to come", says Bednarik.