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7 Oct 2013
GBP/USD resumes the upside and threatens 1.6100
FXstreet.com (Córdoba) - The GBP/USD is printing fresh daily highs during the American afternoon, threatening the 1.6100 psychological level.
Despite a brief setback amid rumors of a budget deal in the US, the GBP/USD quickly regained the upside and rose to a fresh high of 1.6099 in recent dealings. However, the pair lacked momentum to break above the 1.6100 mark and pulled back to currently trade around 1.6095, still up 0.5% on the day.
GBP/USD technical levels
If GBP/USD does break above 1.6100, it could face immediate resistances line up at 1.6130 (200-hour SMA) and 1.6150 (100-hour SMA). On the flip side, supports could now be found at 1.6050 (intraday level) and 1.6015 (daily low) ahead of 1.6000 (psychological level).
Despite a brief setback amid rumors of a budget deal in the US, the GBP/USD quickly regained the upside and rose to a fresh high of 1.6099 in recent dealings. However, the pair lacked momentum to break above the 1.6100 mark and pulled back to currently trade around 1.6095, still up 0.5% on the day.
GBP/USD technical levels
If GBP/USD does break above 1.6100, it could face immediate resistances line up at 1.6130 (200-hour SMA) and 1.6150 (100-hour SMA). On the flip side, supports could now be found at 1.6050 (intraday level) and 1.6015 (daily low) ahead of 1.6000 (psychological level).