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Forex pairs in this Article » GBP/USD (Barcelona) - Cable is last at 1.5701, off NY session and fresh 4-month highs at 1.5738, dealing with 200 day SMA for the first time since it lost it to the downside back by mid January. The pair is up +0.92% for the week so far, ahead of External BOE MPC Member Ian McCafferty speaking in London at 09:50 GMT.

“As usual lately, the lack of momentum does not signal a chance of reversal, as the pair continues to advance slowly but steadily,” said Valeria Bednarik, Chief Analyst at “Technical readings favor the upside with a break above 1.5730 signaling a continuation towards 1.5770 next strong resistance to follow,” the analyst added.

Valeria finds support levels at: 1.5690, 1.5660 and 1.5615, while resistance levels at: 1.5730, 1.5770 and 1.5810.
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