GBP/USD fails to break above 1.6845

By FXstreet.com | June 12, 2014 AAA

FXStreet (Córdoba) - The GBP/USD pushed to marginal new highs following the release of disappointing US jobless claims and retail sales, but the advance stalled once again a few pips shy of last week's high.



The GBP/USD climbed to a daily high of 1.6841 but lacked momentum to clear the 1.6845 resistance zone. At time of writing, the GBP/USD is trading at the 1.6825 region, recording a 0.23% gain Thursday.



GBP/USD technical perspective



“The GBP/USD trades near 1.6845 past week high, having broke above the daily descendant trend line coming from this year high and even having completed a pullback to it before regaining the upside”, said Valeria Bednarik, chief analyst at FXStreet. According to the analyst, short-term indicators present a bullish tone, with a break above 1.6845 favoring continuation towards 1.6880/90.



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