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19 Jun 2013
GBP/USD remains capped by 100-hour SMA
FXstreet.com (Córdoba) - GBP/USD has settled in an even tighter range within the last hours as conditions get thinner and thinner ahead of the Fed decision.
GBP/USD failed to overcome the 1.5675 area, where the 100-hour SMA acted as dynamic resistance and pulled back, although with 1.5645 containing the downside, the pair was confined to a phase of consolidation.
GBP/USD holds the soft tone
At time of writing, GBP/USD is trading at the 1.5650 zone, still up 0.1% on the day. According to Valeria Bednarik, chief analyst at FXstreet.com, technical indicators remain below their midlines in 4-hour chart, "suggesting only a strong acceleration above 1.5680 will favor a recovery in the pair".
GBP/USD failed to overcome the 1.5675 area, where the 100-hour SMA acted as dynamic resistance and pulled back, although with 1.5645 containing the downside, the pair was confined to a phase of consolidation.
GBP/USD holds the soft tone
At time of writing, GBP/USD is trading at the 1.5650 zone, still up 0.1% on the day. According to Valeria Bednarik, chief analyst at FXstreet.com, technical indicators remain below their midlines in 4-hour chart, "suggesting only a strong acceleration above 1.5680 will favor a recovery in the pair".