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9 Oct 2013
GBP/USD opts to rise higher above 1.61
FXstreet.com (Chicago) - GBP/USD regains the 1.61 zone and consolidates above 1.6110 after edging higher on official White House announcements.
What is new around the hood?
Latest political announcements are the not-so new US government shutdown that goes on and the not so surprising nomination to replace Bernanke for Yellen in the Fed. Ahead of data in the UK, the pair regains strength after a poor performance on slaking few days and the greenback’s mini-reaction after collective beating up that started last September 18th.
GBP/USD Technical Levels
Price action reveals a pair that stretches higher breaking through immediate resistance, now support at 1.6095. Extending the upward trendline from last July 9th, the pair consolidates bounce from 1.6014 session lows from yesterday. After retracing from strong resistance around the 1.6259 zone (tripe tops with January 1st and September 18th highs 2012), the pair is offered at 1.6113 and navigates between supports aligned at 1.6095 (September 26th highs), 1.6014 (September 20th lows) followed by 1.5953 (September 24th lows) and the resistances set at 1.6158 (September 18th highs) followed by 1.6259 (September 29th highs) and 1.6314 (December 30th 2012 highs).
What is new around the hood?
Latest political announcements are the not-so new US government shutdown that goes on and the not so surprising nomination to replace Bernanke for Yellen in the Fed. Ahead of data in the UK, the pair regains strength after a poor performance on slaking few days and the greenback’s mini-reaction after collective beating up that started last September 18th.
GBP/USD Technical Levels
Price action reveals a pair that stretches higher breaking through immediate resistance, now support at 1.6095. Extending the upward trendline from last July 9th, the pair consolidates bounce from 1.6014 session lows from yesterday. After retracing from strong resistance around the 1.6259 zone (tripe tops with January 1st and September 18th highs 2012), the pair is offered at 1.6113 and navigates between supports aligned at 1.6095 (September 26th highs), 1.6014 (September 20th lows) followed by 1.5953 (September 24th lows) and the resistances set at 1.6158 (September 18th highs) followed by 1.6259 (September 29th highs) and 1.6314 (December 30th 2012 highs).