Forex: GBP/USD tries to recover and rises above 1.6200
FXstreet.com (Barcelona) - Pound has risen back around 60 pips against Dollar in the last hour from 1.6149, intra-day low, to trade above 1.6200 and test 1.6210 resistance. Currently the pair is trading around 1.6200/10, posting 0.55% daily looses from opening price.
Tim Salem, FXstreet.com collaborator comments: " Neutral Hourly Sentiment with Price is Seen in the Immediate-Term, very similar to The Euro, as Price comes off of a “Rounded V” Formation from Daily Static Support @ 1.6092. The 20SMA/200SMA Bearish Cross is also “flatlining” to some Neutrality here with the same Divergent RSI Readings and Slope of “49”, as the 20SMA provides Dynamic Support Confluence with the Daily Pivot @ 1.6236. Appreciation sees 1.6324 Static Resistance followed by 1.6379, with the 200SMA almost-Converging @ 1.6421. Continuation sees 1.6468 where Bullish Sentiment would be coming back into View, as price retraces the Downleg of Deprecation for a potential Hourly Double-Top @ the 1.6530’s Area."
Salem provide us with his levels: "Support levels: 1.6236 1.6188 1.6147 1.6092 1.6074. Resistance levels: 1.6324 1.6379 1.6420 1.6468 1.6513 1.6468"
The FXstreet.com Currency at Glance Trend Index points Bearish, B/OS Index shows Neutral
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