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15 Aug 2013
GBP/USD catapults higher as 1.5600 barrier fails to curb advance
FXstreet.com (New York) - The GBP/USD foreign exchange rate surged to fresh highs Thursday, streaming above the 1.5600 level during US trading.
Technically speaking, the GBP/USD is now operating at 1.5638, securing a steadfast gain of +0.87% above it’s opening during US trading. With the GBP/USD already breaking resistance at 1.5621, the next level of correction will attempt to stymie an advance at 1.5695, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to the upside but notably breached the 78.6% correction at 1.5550. This level represents an intraday interval and a break above this will avert a bearish correction during the US session especially, despite the fact the stochastic is still negative.”
Technically speaking, the GBP/USD is now operating at 1.5638, securing a steadfast gain of +0.87% above it’s opening during US trading. With the GBP/USD already breaking resistance at 1.5621, the next level of correction will attempt to stymie an advance at 1.5695, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to the upside but notably breached the 78.6% correction at 1.5550. This level represents an intraday interval and a break above this will avert a bearish correction during the US session especially, despite the fact the stochastic is still negative.”