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16 Apr 2014
GBP/USD takes a breather after steep rally
FXStreet (Córdoba) - The GBP/USD entered a consolidation phase during the American session, taking a breather after a steep rally triggered by better than expected UK employment data.
The GBP/USD resumed its advance Wednesday after falling to levels sub-1.6700 the previous day, and rallied to a high of 1.6817 but stalled just a few pips below its 2014 high scored back in February at 1.6821. The pair has spent the last hours in a slim range and it is currently trading at the 1.6800 area, 0.43% above its opening price.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at the 1.6817/21 area (Apr 16, 10 and Feb 17 highs) and not much until 1.6876 (Nov 2009 high). On the other hand, supports are seen at 1.6719 (Apr 16 low) and 1.6669 (Apr 15 low).
The GBP/USD resumed its advance Wednesday after falling to levels sub-1.6700 the previous day, and rallied to a high of 1.6817 but stalled just a few pips below its 2014 high scored back in February at 1.6821. The pair has spent the last hours in a slim range and it is currently trading at the 1.6800 area, 0.43% above its opening price.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at the 1.6817/21 area (Apr 16, 10 and Feb 17 highs) and not much until 1.6876 (Nov 2009 high). On the other hand, supports are seen at 1.6719 (Apr 16 low) and 1.6669 (Apr 15 low).