Forex: GBP/USD recovering the mark of 1.5183/85

FXstreet.com (Barcelona) - The GBP/USD has moved in a very volatile pattern Monday, having oscillated sporadically during American trading. After two failed attempts at the downside, which bottomed out at 1.5155 and 1.5160 respectively, the cross is now recovering some of its losses to trade at 1.5183/85, still incurring a loss of -0.31%.

“The GBP/USD consolidated above 1.5190, which triggered the extension of the upside move. However, the bullish move requires stability above the 1.5130 level.” warns the ICN.com analyst team.

After breaking through support at 1.5225, ICN.com analysts point to additional means at 1.5130, then 1.5080, and ahead of 1.5030. Conversely, the GBP/USD will face calculated measures of resistance at 1.5300, onto 1.5385, and 1.5415.