Filed Under:
Forex pairs in this Article » GBP/USD
FXStreet (Edinburgh) - The pound keeps the buoyant tone on Thursday, with the GBP/USD now meandering around the 1.6640/45 area.

GBP/USD only way: up

After hitting fresh 2014 highs in the vicinity of 1.6680, the pair is now attempting a consolidation just below 1.6650. Miserable results from the US retail sales during January and higher Initial Claims from the past week have weighed on the USD, propelling the pair to fresh tops and adding to the euphoria post-QIR. “We continue to forecast the first rate hike coming in February next year, but if we are correct on the employment/wage dynamic we see the threat of an earlier move”, suggested James Knightley, Analyst at ING.

GBP/USD levels to watch

As of writing the pair is advancing 0.28% at 1.6641 and a surpass of 1.6673 (2014 high Feb.13) ahead of 1.6700 (psychological level). On the downside, a breach of 1.6425 (low Feb.12) would aim for 1.6392 (low Feb.11) and then 1.6384 (low Feb.10).
comments powered by Disqus