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Forex pairs in this Article » GBP/USD
FXstreet.com (Córdoba) - The pound extended its recovery from a 3-week low versus the greenback, amid better appetite for risk and after the BoE decided to leave its monetary policy unchanged. GBPUSD managed to erase its previous day's losses and after climbing nearly 100 pips it recently hit a high of 1.6168.

However, GBPUSD has a strong resistance area at 1.6170/85 which has capped every rally attempt this week. At time of writing, the pair is trading at the 1.6155/60 region, recording a 0.5% gain on the day.

"The pair may now attempt to test the static resistance area around 1.6180, yet needs to actually clear it to be stand firmer to the upside", says Valeria Bednarik, analyst at FXstreet.com. "In bigger time frames the technical outlook is still quite heavy in the pair, as indicators hold in negative territory while 20 SMA heads south now below current price. Short term talking however, the upside is favored as long as the pair stands above 1.6140 static support zone".
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