Forex: GBP/USD backs away from highs

FXstreet.com (Córdoba) - The British pound lacked momentum to extend gains past the 1.6175 area and pulled back instead as optimism surrounding markets started to fade and most crosses entered a quieter phase.

GBPUSD reached a 2-week high of 1.6177 at the beginning of the session before finding resistance, underpinned by better-than-expected UK employment data. However, the subsequent dip was contained by the 1.6140 zone and the pair has been trading between those levels within the last hours.

At time of writing, GBPUSD is trading at the 1.6150 zone, still up 0.3% on the day. As for technical levels, immediate resistances are seen at 1.6175, 1.6200 and 1.6220, while supports could be found at 1.6140, 1.6100 and 1.6080.