Forex: GBP/USD limited below 1.6200
Forex pairs in this Article »
GBP/USD
FXstreet.com (San Francisco) - GBPUSD touched an 11-week high Monday in Asia as it traded a 1.6156/1.6198 intraday range, last quoted around 1.6170 vs. 1.6155 late Friday. The 200-week EMA (1.6175) appears to be helping limit upside rallies for the time being. Above there, Ms. Bednarik notes resistance levels at 1.6220, 1.6265 and 1.6310, while support levels are offered at 1.6140, 1.6110 and 1.6065.
From Valeria Bednarik, Chief Analyst at FXstreet.com: "In the 4 hours chart, technical readings hold a neutral stance, although a break to the upside of recent highs suggests more gains are yet to come: 1.6220 area, early October highs are immediate resistance level to follow as once above, the pair has scope to retest 1.6308 this year high."
Tomorrow, a slew of UK inflation data is on offer, including November CPI, PPI and the latest BoE Inflation letter. On Thursday, the US will release its third estimate of 3Q GDP.
From Valeria Bednarik, Chief Analyst at FXstreet.com: "In the 4 hours chart, technical readings hold a neutral stance, although a break to the upside of recent highs suggests more gains are yet to come: 1.6220 area, early October highs are immediate resistance level to follow as once above, the pair has scope to retest 1.6308 this year high."
Tomorrow, a slew of UK inflation data is on offer, including November CPI, PPI and the latest BoE Inflation letter. On Thursday, the US will release its third estimate of 3Q GDP.
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