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27 Nov 2013
GBP/USD in highs near 1.6300
FXstreet.com (Edinburgh) - After a brief knee-jerk to the proximity of 1.6200 the figure, the GBP/USD rapidly climbed to fresh 11-month highs beyond 1.6280 on Wednesday.
GBP/USD firmer after GDP
The pair is now trading closer to the key 1.6300 handle after the UK economy expanded in line with expectations during the third quarter, 0.8% QoQ and 1.5% on a yearly basis. Further data showed that the Index of Services grew 0.7% in the three months ended in September. Strategists at UBS remain neutral on the pair, arguing, “there is an important resistance at 1.6260, a break through which would be positive as it would indicate more upside to the critical resistance at 1.6381. Support is at 1.6134 ahead of 1.6060”.
GBP/USD critical levels
The pair is now advancing 0.40% at 1.6276 with the next resistance at 1.6300 (psychological level) ahead of 1.6381 (2013 highs). On the flip side, a breakdown of 1.6198 (low Nov.27) would expose 1.6154 (MA10d) and finally 1.6138 (low Nov.26).
GBP/USD firmer after GDP
The pair is now trading closer to the key 1.6300 handle after the UK economy expanded in line with expectations during the third quarter, 0.8% QoQ and 1.5% on a yearly basis. Further data showed that the Index of Services grew 0.7% in the three months ended in September. Strategists at UBS remain neutral on the pair, arguing, “there is an important resistance at 1.6260, a break through which would be positive as it would indicate more upside to the critical resistance at 1.6381. Support is at 1.6134 ahead of 1.6060”.
GBP/USD critical levels
The pair is now advancing 0.40% at 1.6276 with the next resistance at 1.6300 (psychological level) ahead of 1.6381 (2013 highs). On the flip side, a breakdown of 1.6198 (low Nov.27) would expose 1.6154 (MA10d) and finally 1.6138 (low Nov.26).