Forex: GBP/USD extends recovery to fresh highs
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - Despite continued worries about the US fiscal cliff, the pound managed to erase losses versus the greenback and turned positive during the New York session.
GBPUSD bounced from a low of 1.6077 and having climbed over 80 pips within the last hours, it recently printed a fresh daily high of 1.6163. At time of writing, GBPUSD is trading at the 1.6160 area, 0.4% above its opening price.
In terms of technical levels, if the GBPUSD manages to break above the 1.6165 zone, next resistances could be found at 1.6200 (psychological level) and 1.6235 (former support level). On the downside, supports are seen at 1.6075/65 zone, 1.6050 (55-day SMA) and 1.6000 (psychological level).
GBPUSD bounced from a low of 1.6077 and having climbed over 80 pips within the last hours, it recently printed a fresh daily high of 1.6163. At time of writing, GBPUSD is trading at the 1.6160 area, 0.4% above its opening price.
In terms of technical levels, if the GBPUSD manages to break above the 1.6165 zone, next resistances could be found at 1.6200 (psychological level) and 1.6235 (former support level). On the downside, supports are seen at 1.6075/65 zone, 1.6050 (55-day SMA) and 1.6000 (psychological level).
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