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6 May 2013
Forex: GBP/USD weakens on US session
FXstreet.com (Barcelona) - After failing the upside at 1.5598 high, two pips below the psychological level at 1.5600, the GBP/USD was sidelined at 1.5580 during the Asian session and started its declining tour throughout the London morning to 1.5560. NY money is pushing the pair further down, having reached 1.5532 low, so far.
The GBP/USD has been capping at 1.5600 since May-1. The economic calendar is pretty empty in the US, with only a 3-month and a 6-month debt auction and the Loan Officer Survey.
“The GBP/USD currency pair is still forming the third ascending wave with the target at 1.5615. We think, today the price may continue moving upwards and reach the above-mentioned target”, wrote Roboforex.com analyst Igor Sayadov. “Later, in our opinion, the pair may form a reversal pattern to start a new correction with the target at 1.5325”, he added.
The GBP/USD has been capping at 1.5600 since May-1. The economic calendar is pretty empty in the US, with only a 3-month and a 6-month debt auction and the Loan Officer Survey.
“The GBP/USD currency pair is still forming the third ascending wave with the target at 1.5615. We think, today the price may continue moving upwards and reach the above-mentioned target”, wrote Roboforex.com analyst Igor Sayadov. “Later, in our opinion, the pair may form a reversal pattern to start a new correction with the target at 1.5325”, he added.