6 Nov 2013
GBP/USD retraces gains
FXstreet.com (Córdoba) - The GBP/USD surrendered some of its intraday gains during the American afternoon as failure to hold above the 1.6100 mark put the pair under mild pressure.
GBP/USD rejected from daily highs
GBP/USD backed away from a peak of 1.6117 scored in the wake of a strong UK IP reading, and it has been slowly retracing gains sliding to a session low of 1.6068 before finding support. At time of writing, GBP/USD is trading at the 1.6080 area, still up 0.2% on the day.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD manages to regain 1.6100 next resistances are seen at 1.6117 (daily high) and 1.6139 (Oct 29 high). On the flip side, supports are now seen at 1.6040 (daily low) and 1.6020 (Nov 5 intraday low) ahead of 1.6000 (psychological level).
GBP/USD rejected from daily highs
GBP/USD backed away from a peak of 1.6117 scored in the wake of a strong UK IP reading, and it has been slowly retracing gains sliding to a session low of 1.6068 before finding support. At time of writing, GBP/USD is trading at the 1.6080 area, still up 0.2% on the day.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD manages to regain 1.6100 next resistances are seen at 1.6117 (daily high) and 1.6139 (Oct 29 high). On the flip side, supports are now seen at 1.6040 (daily low) and 1.6020 (Nov 5 intraday low) ahead of 1.6000 (psychological level).