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Forex pairs in this Article » GBP/USD (Córdoba) - The pound edged higher versus the dollar after data showed US private payrolls increased more than expected in January although the preliminary reading for the Q4 GDP printed its first drop since last recession. GBPUSD reached a fresh peak of 1.5791 after the data and continues to trade near highs, recording a 0.2% daily gain.

"I see current gains in the GBPUSD mostly as corrective: the pair is now hovering around 1.5770 strong static level, with 4 hours indicators showing no strength. Price may attempt to advance further but 1.5820 is the level to watch, as only above the bearish pressure may start to ease", says Valeria Bednarik, chief analyst at "Next resistances then, come at 1.5860 and 1.5900 area. Below 1.5740 on the other hand, I would expect more falls, with 1.5700 and 1.5660 as next supports".
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