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Forex pairs in this Article » GBP/USD (Barcelona) - Ani Salama, FXStreet Analyst notes that GBP/USD picked up pace during the European session and rose to fresh daily highs at the 1.6570 area, trimming last Friday's sharp decline triggered by Carney's speech.

Key Quotes

“From a technical perspective, short-term indicators have turned bullish with 1-hour momentum and RSI above their midlines and price above the 20-hour SMA. In 4-hour charts indicators point north but price remains capped by the 20 SMA.”

“A break above this latter (1.6570) would spark a stronger rally with 1.6600 as immediate target, followed by its 32-month peak of 1.6667 scored last Friday.”

“On the other hand, if the Cable loses the 1.6500 mark it could fall towards 1.6450, where the next layer of buyers should contain the slide today.”
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