26 May 2014
GBP/USD in narrow range above 1.6830
FXStreet (Córdoba) - On a low volume day, the GBP/USD trades in a narrow range, like most crosses. Cable is bouncing to the upside after finding support above 1.6830 and has approached the 1.6850 area.
During the European session GBP/USD reached the highest price at 1.6852 but lost momentum afterwards. Since Asian hours is moving sideways between 1.6830 and 1.6850.
GBP/USD posts small gains
Currently trades at 1.6845, up 0.07% for the day. Cable is rising against the US dollar after falling in the previous two trading days.
Last Friday the GBP/USD posted the third consecutive weekly close between 1.6810 and 1.6845. After being unable to break above 1.7000, it has been consolidating around 1.6820/40.
During the European session GBP/USD reached the highest price at 1.6852 but lost momentum afterwards. Since Asian hours is moving sideways between 1.6830 and 1.6850.
GBP/USD posts small gains
Currently trades at 1.6845, up 0.07% for the day. Cable is rising against the US dollar after falling in the previous two trading days.
Last Friday the GBP/USD posted the third consecutive weekly close between 1.6810 and 1.6845. After being unable to break above 1.7000, it has been consolidating around 1.6820/40.