Forex: GBP/USD falls toward 1.6100
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - After hitting a daily high 1.6169, the GBPUSD turned around and weighed by the risk-off mood, it retraced completely its intraday gains as investors continue to look for signs of progress in US fiscal cliff talks.
GBPUSD dropped over 60 pips throughout the session and recently hit a low of 1.6105, just a few pips above Monday's trough of 1.6099. At time of writing, GBPUSD is quoting at the 1.6110 area, 0.1% below its opening price.
As for technical levels immediate supports are seen at 1.6099 (Dec 24 low), 1.6085 (Dec 13 low) and 1.6070 (Dec 11 low). On the upside, resistances are seen at 1.6150 (intraday level), 1.6170 (intraday high) and 1.6200 (psychological level).
GBPUSD dropped over 60 pips throughout the session and recently hit a low of 1.6105, just a few pips above Monday's trough of 1.6099. At time of writing, GBPUSD is quoting at the 1.6110 area, 0.1% below its opening price.
As for technical levels immediate supports are seen at 1.6099 (Dec 24 low), 1.6085 (Dec 13 low) and 1.6070 (Dec 11 low). On the upside, resistances are seen at 1.6150 (intraday level), 1.6170 (intraday high) and 1.6200 (psychological level).
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