Forex: GBP/USD settles in a range above daily lows
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - The Cable fell sharply on Friday, extending its earlier losses after the US nonfarm payrolls report came in better than expected, as the greenback benefited from the data. GBPUSD broke below the 1.6100 level and stretched to a low of 1.6024 before settling in a slim range just above and capped by 1.6050 on the upside.
At time of writing, GBPUSD is quoting at the 1.6035/40 zone where it prints a 0.5% loss of the day. The pair is also set to close the week with a net decline of 0.4% having seesawed from a low of 1.6005 and a high of 1.6173.
As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.6025, 1.6000 and 1.5970, while resistances are seen at 1.6065, 1.6090 and 1.6120.
At time of writing, GBPUSD is quoting at the 1.6035/40 zone where it prints a 0.5% loss of the day. The pair is also set to close the week with a net decline of 0.4% having seesawed from a low of 1.6005 and a high of 1.6173.
As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.6025, 1.6000 and 1.5970, while resistances are seen at 1.6065, 1.6090 and 1.6120.
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