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18 Oct 2013
GBP/USD corrects from highs, back below 1.6200
FXstreet.com (Córdoba) - The rally of the GBP/USD lost momentum heading into the American session as the greenback recovers ground across the board.
The Cable gathered strength during the European session and printed a 2-week peak of 1.6225 but faltered ahead of early October 9-month highs and pulled back below 1.6200 most recently. BoE Dale saying it's 'very unlikely' BOE will raise rates in 2014, helped to temper Sterling gains. At time of writing, GBP/USD is trading at the 1.6185 area, still 0.1% above its opening price.
GBP/USD technical levels
In terms of technical levels, immediate resistances for GBP/USD are seen at 1.6225 (daily high) 1.6240 (Oct 3 high) and 1.6259 (Oct 31 high), while supports could be found at 1.6141 (daily low) and 1.6100 (psychological level).
The Cable gathered strength during the European session and printed a 2-week peak of 1.6225 but faltered ahead of early October 9-month highs and pulled back below 1.6200 most recently. BoE Dale saying it's 'very unlikely' BOE will raise rates in 2014, helped to temper Sterling gains. At time of writing, GBP/USD is trading at the 1.6185 area, still 0.1% above its opening price.
GBP/USD technical levels
In terms of technical levels, immediate resistances for GBP/USD are seen at 1.6225 (daily high) 1.6240 (Oct 3 high) and 1.6259 (Oct 31 high), while supports could be found at 1.6141 (daily low) and 1.6100 (psychological level).