Forex: GBP/USD challenges 1.6130 resistance
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GBP/USD
FXstreet.com (Córdoba) - The pound strengthened against the greenback and reached fresh 1-month high of 1.6130 in recent dealings, underpinned by positive market sentiment, but found strong resistance and pulled back.
However, the retreat was contained by the 1.6105 zone, and GBPUSD rose back to retest highs. At time of writing, GBPUSD is quoting at the 1.6120 zone, 0.2% above its opening price.
"Cable has risen further and looks strong targeting 1.6160-200 in the coming sessions. Daily and the weekly charts both have turned bullish and look strong", says the Kshitij Consultancy Services Team. "Any dip from current levels is likely to get support near 1.6080-50 levels".
However, the retreat was contained by the 1.6105 zone, and GBPUSD rose back to retest highs. At time of writing, GBPUSD is quoting at the 1.6120 zone, 0.2% above its opening price.
"Cable has risen further and looks strong targeting 1.6160-200 in the coming sessions. Daily and the weekly charts both have turned bullish and look strong", says the Kshitij Consultancy Services Team. "Any dip from current levels is likely to get support near 1.6080-50 levels".
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