Forex: GBP/USD breaks above 1.6100
Forex pairs in this Article »
GBP/USD
FXstreet.com (San Francisco) - The Sterling's bullish tone against the US Dollar is driving the Cable to trade above the 1.6100 psychology level on a 30-pips upward movement from 1.6080 to reach the 1.6115 area, highest since December 6th.
The GBPUSD is currently trading at 1.6110, 0.20% above opening price action. "Price is finding short term support in the 20 SMA, currently around 1.6080, while indicators in the mentioned time frame hold the positive territory," comments Valeria Bednarik, FXstreet.com analyst. "In the 4 hours chart the upside momentum seems stronger although the pair has a strong static resistance level around 1.6115 that may attract sellers. Clear gains above it are now required to confirm further gains ahead for the GBP."
The pair should find resistances at 1.6115 (Dec 5 high) and 1.6130 (Dec 4 high). On the downside, supports could be found at 1.6065 (intraday low), 1.6040 (Dec 6 low) and 1.6000 (psychological level).
The GBPUSD is currently trading at 1.6110, 0.20% above opening price action. "Price is finding short term support in the 20 SMA, currently around 1.6080, while indicators in the mentioned time frame hold the positive territory," comments Valeria Bednarik, FXstreet.com analyst. "In the 4 hours chart the upside momentum seems stronger although the pair has a strong static resistance level around 1.6115 that may attract sellers. Clear gains above it are now required to confirm further gains ahead for the GBP."
The pair should find resistances at 1.6115 (Dec 5 high) and 1.6130 (Dec 4 high). On the downside, supports could be found at 1.6065 (intraday low), 1.6040 (Dec 6 low) and 1.6000 (psychological level).
Free Annual Reports
