8 Apr 2014
GBP/USD prints 1-month high
FXStreet (Córdoba) - The GBP/USD extended gains to fresh highs at the beginning of the American session as US dollar selling accelerates across the board.
The GBP/USD climbed to a fresh 1-month high of 1.6747 before finding the next layer of sellers with the dollar being strongly sold-off. At time of writing, the GBP/USD is trading at 1.6740, recording a 0.81% gain on the day. Coupled with broad dollar weakness, the Cable advanced strongly Tuesday supported by much better-than-expected UK industrial output figures.
GBP/USD levels to watch
If the GBP/USD breaks decisively above 1.6750, next resistances are seen at 1.6785 (Mar 7 high) and 1.6800 (psychological level). On the other hand, supports could be found at 1.6603 (daily low), 1.6590 (50-day SMA) and 1.6551 (Apr 4 low).
The GBP/USD climbed to a fresh 1-month high of 1.6747 before finding the next layer of sellers with the dollar being strongly sold-off. At time of writing, the GBP/USD is trading at 1.6740, recording a 0.81% gain on the day. Coupled with broad dollar weakness, the Cable advanced strongly Tuesday supported by much better-than-expected UK industrial output figures.
GBP/USD levels to watch
If the GBP/USD breaks decisively above 1.6750, next resistances are seen at 1.6785 (Mar 7 high) and 1.6800 (psychological level). On the other hand, supports could be found at 1.6603 (daily low), 1.6590 (50-day SMA) and 1.6551 (Apr 4 low).