Back
16 Sep 2013
GBP/USD gives in 1.59 front
FXstreet.com (Chicago) - GBP/USD failed to protect the 1.59 front and gave in to bearish pressure at the closing of Wall Street. Still around 9-month highs, the pair registers 0.14% gains so far ahead of the Fed interest rate decision Wednesday and the purchase program update the same day.
Equities - Overall bullish
Wall Street closed with mixed results after a strong rally on Summers’s bid withdrawal. The Down registered 0.77% gains similarly to the S&P 500 up 0.57%. On the contrary, the Nasdaq was down 0.12%. In the UK, the FTSE 100 had closed up 0.59%.
GBP/USD Technical Levels
The pair failed to maintain the 1.59 front and gave it up to the bears after dropping at the closing of the first day of an exciting week for the greenback. Offered at 1.5895, the pair navigates between supports at 1.5878 (January 24th highs), 1.5843 (February 1st highs) ahead of 1.5810 (September 9th highs) and resistances at 1.5961 (November 26th 2012 lows), 1.60 (key psychological) followed by 1.6056 (December 26th 2012 lows). On one-hour timeframe analysis, the FXstreet.com trend index reports the pair as slightly bearish below the EMA20.
Equities - Overall bullish
Wall Street closed with mixed results after a strong rally on Summers’s bid withdrawal. The Down registered 0.77% gains similarly to the S&P 500 up 0.57%. On the contrary, the Nasdaq was down 0.12%. In the UK, the FTSE 100 had closed up 0.59%.
GBP/USD Technical Levels
The pair failed to maintain the 1.59 front and gave it up to the bears after dropping at the closing of the first day of an exciting week for the greenback. Offered at 1.5895, the pair navigates between supports at 1.5878 (January 24th highs), 1.5843 (February 1st highs) ahead of 1.5810 (September 9th highs) and resistances at 1.5961 (November 26th 2012 lows), 1.60 (key psychological) followed by 1.6056 (December 26th 2012 lows). On one-hour timeframe analysis, the FXstreet.com trend index reports the pair as slightly bearish below the EMA20.