Back
27 Jan 2014
GBP/USD in recovery mode after Friday's slump
FXstreet.com (Córdoba) - The GBP/USD managed to advance above the 1.6500 mark Monday and climbed toward fresh daily highs during the European session after the strong slump seen Friday in the wake of BoE Carney's speech.
The GBP/USD started the week below 1.6500, and after bottoming out at 1.6473 it began an upward move that extended to a high of 1.6550 so far. Having pierced the 100-hour SMA, the pair is currently trading at the 1.6545 area, recording a 0.3% daily gain.
GBP/USD levels to watch
In terms of technical levels, if the GBP/USD breaks above 1.6550 (Jan 27 high), next resistances are seen at 1.6570 (50-day SMA) and 1.6600 (psychological level). On the other hand, supports are seen at 1.6473 (Jan 27 low) and 1.6450 (Jan 22 low).
The GBP/USD started the week below 1.6500, and after bottoming out at 1.6473 it began an upward move that extended to a high of 1.6550 so far. Having pierced the 100-hour SMA, the pair is currently trading at the 1.6545 area, recording a 0.3% daily gain.
GBP/USD levels to watch
In terms of technical levels, if the GBP/USD breaks above 1.6550 (Jan 27 high), next resistances are seen at 1.6570 (50-day SMA) and 1.6600 (psychological level). On the other hand, supports are seen at 1.6473 (Jan 27 low) and 1.6450 (Jan 22 low).