22 Oct 2013
GBP/USD prints fresh highs
FXstreet.com (Córdoba) - The GBP/USD broke to its highest level in 20 days during the American afternoon and continues to approach its 10-month peak scored early October.
Underpinned by broad USD weakness in the wake of a soft NFP reading, the Cable rose to a high of 1.6244 in recent dealings and continues to threaten daily highs, aiming for a rally toward 1.6159 (Oct 1 high). The USD came under broad pressure as soft employment data trimmed prospects the Fed could begin tapering stimulus this year.
GBP/USD technical levels
At time of writing, GBP/USD is trading at the 1.6240 zone, where it records a 0.6% gain Tuesday with immediate resistances at 1.6244 (daily high) and 1.6259 (Oct 1 high) ahead of 1.6300 (psychological level), while supports are seen at 1.6224 (Oct 18 high), 1.6130 (Oct 21 low) and 1.6115 (daily low).
Underpinned by broad USD weakness in the wake of a soft NFP reading, the Cable rose to a high of 1.6244 in recent dealings and continues to threaten daily highs, aiming for a rally toward 1.6159 (Oct 1 high). The USD came under broad pressure as soft employment data trimmed prospects the Fed could begin tapering stimulus this year.
GBP/USD technical levels
At time of writing, GBP/USD is trading at the 1.6240 zone, where it records a 0.6% gain Tuesday with immediate resistances at 1.6244 (daily high) and 1.6259 (Oct 1 high) ahead of 1.6300 (psychological level), while supports are seen at 1.6224 (Oct 18 high), 1.6130 (Oct 21 low) and 1.6115 (daily low).