Published: Tue, 26 May 2009 03:35:00 +0200
GBP/USD Current price: 1.5923
FXstreet.com (Buenos Aires) - GBP/USD Current price: 1.5923. Still in range, pair remains close to multi months highs at 1.5940. Movements above that level, could trigger some bullish momentum with 1.6030 as a quite interesting target zone: it represents the 38.2% Fibonacci retracement of the monthly fall from 2.0158 to 1.3502 January low.
"If set to correct, that?s the target zone pair needs to reach before starting," said Valeria Bednarik, collaborator at FXstreet.com. Indicators in the hourly show no clear bias, while bigger time frames point for an exhaustion of actual trend.
By Fxstreet.com
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