FxWirePro: GBP/USD up in Asian trade, sees strong resistance at 1.5474
GBP/USD up 20pts in Asian trade; day's range 1.5355-1.5413. Bearish setup remains intact, with daily price action dipping into cloud. Domestically, following the release of the RICS house price survey overnight, the only…
GBP/USD up 20pts in Asian trade; day's range 1.5355-1.5413. Bearish setup remains intact, with daily price action dipping into cloud.
Domestically, following the release of the RICS house price survey overnight, the only scheduled event is the announcement of the Bank of England MPC policy decision. No change is expected and a 'standard' statement likely.
At the time of writing the pair trades at 1.5380, with supports at 0.5367 (75% Fibo of 0.5190-1.5909 rise) and 0.5330 (July 8 low)
Strong resistance is seen at 1.5474 (61.8 % Fibo of 0.5190-1.5909 rise) and 55 EMA
