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Forex pairs in this Article » GBP/USD (Edinburgh) - The sterling is inching higher on Monday, with the GBP/USD bouncing off the 1.6320 area to challenge session highs in the boundaries of 1.6370.

GBP/USD supported at 1.6300

The pair is now advancing for the second consecutive session after dipping to the vicinity of 1.6300 the figure last week, down from ytd peaks beyond 1.6440 in late November. The UK docket is empty today, however markets participants would be closely following the speech by Governor M.Carney at the Economic Club of New York, looing for updates on the UK economic recovery. According to strategists at UBS, the pair’s perspective remains bullish, “with the MACD above its zero line, any downside will be corrective and limited to support at 1.6288. Resistance is at 1.6443, a break above which would open 1.6618”.

GBP/USD significant levels

At the moment the pair is up 0.15% at 1.6368 with the initial resistance at 1.6393 (high Dec.6) followed by 1.6403 (high Dec.5) and then 1.6437 (high Dec.3). On the flip side, a breakdown of 1.6316 (low Dec.9) would open the door to 1.6294 (low Dec.6) and finally 1.6277 (low Nov.28).
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