After staging a short-lived correction toward the 1.6370 area as the US Dollar spiked on the back of a better-than-expected US consumer confidence reading, GBP/USD has resumed its upward move, inching back to the 1.6400 area.
GBP/USD is currently trading at the 1.6400/05 region, recording a 0.81% gain on the day. Cable had climbed over 150 pips and peaked at 1.6419 earlier on Tuesday, setting a fresh 6-week high, underpinned by UK growth report.
Valeria Bednarik, chief analyst at FXstreet, sees immediate resistance levels at the 1.6420 area, ahead of 1.6450 and 1.6490, while she locates support levels at 1.6340, 1.6300 and 1.6270. "Lose of 1.6340 however, may put the short term trend towards the downside, more if market sentiment continues changing to risk aversion today", said Bednarik.
GBP/USD is currently trading at the 1.6400/05 region, recording a 0.81% gain on the day. Cable had climbed over 150 pips and peaked at 1.6419 earlier on Tuesday, setting a fresh 6-week high, underpinned by UK growth report.
Valeria Bednarik, chief analyst at FXstreet, sees immediate resistance levels at the 1.6420 area, ahead of 1.6450 and 1.6490, while she locates support levels at 1.6340, 1.6300 and 1.6270. "Lose of 1.6340 however, may put the short term trend towards the downside, more if market sentiment continues changing to risk aversion today", said Bednarik.
No comments:
Post a Comment