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9 Sep 2013
GBP/USD RSI 80 and capping at 1.5734
FXstreet.com (London) - GBP/USD has made a high at 1.5734 finding offers to bring the pair into confirmed 'over-done' territory for the time being.
GBP/USD has performed over 150 pips to the upside since Fridays disappointment in the from of US payroll numbers and some modest positiveness from the fact that the BoE policy came without a statement this time around, indicating that the MPC has become more comfortable with the continued rise in market interest rates.
GBP/USD offered
GBP/USD has found resistance and has become over extended to the topside while the 20 DMA is 1.5570, the 50 DMA is 1.5367 and the 200 DMA is 1.5495. RSI (14) reads 80.34 indicating momentum is overdone. Supports are ascending from 1.5507, 1.5522, 1.5550, 1.5595, 1.5629, 1.5651 and 1.5681. Spot is currently 1.5708 while resistances are 1.5718 and 1.5734.
GBP/USD has performed over 150 pips to the upside since Fridays disappointment in the from of US payroll numbers and some modest positiveness from the fact that the BoE policy came without a statement this time around, indicating that the MPC has become more comfortable with the continued rise in market interest rates.
GBP/USD offered
GBP/USD has found resistance and has become over extended to the topside while the 20 DMA is 1.5570, the 50 DMA is 1.5367 and the 200 DMA is 1.5495. RSI (14) reads 80.34 indicating momentum is overdone. Supports are ascending from 1.5507, 1.5522, 1.5550, 1.5595, 1.5629, 1.5651 and 1.5681. Spot is currently 1.5708 while resistances are 1.5718 and 1.5734.