Filed Under:
Forex pairs in this Article » GBP/USD (Córdoba) - The pound extended gains versus the dollar early American session and held steady near highs after data showed US GDP growth was upwardly revised to 2.7% in Q3 while jobless claims dropped to 393K last week. Even though the headlines came in slightly below expectations, data was overall upbeat.

GBPUSD rose to a daily high of 1.6046 just ahead of the releases and continues to threaten the upside, trading at the 1.6040 zone, where it is 0.2% above its opening price.

From a technical view, "GBPUSD presents a very limited bullish tone in the short term, with price capped below 1.6055 this week high", says Valeria Bednarik, chief analyst at "If the level is taken, I would expect more gains, towards the roof of the daily descendant channel, today around 1.6080".

"The bulls will remain in control as long as price holds above 1.5990 immediate support. Below this latter, 1.5950/60 is next bearish target", Bednarik adds.
comments powered by Disqus