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Forex pairs in this Article » GBP/USD (Barcelona) - The GBP/USD is trading above any short-term resistance levels that the technical cabal has put forth – and that is despite relative strength in the US Dollar versus most other currencies.

GBP/USD traders to be working off technicals Friday

With a dearth of data in both Britain and the US Friday, GBP/USD traders will have to base any trading decisions on technical analysis and observed momentum in the cross.

Technical outlook for GBP/USD

Technicians say that GBP/USD has closed above possible upside ceiling at 1.6166 and now appears destined to reach all the way up to 1.6375 eventually. Before that target is tested, the cross will face some resistance at the 10/23 level of 1.6259. Support on any pullback starts at this week’s low of 1.6058 and is followed up by the recent low of 1.5851.
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