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20 Dec 2013
GBP/USD spikes to 1.6397 highs
FXstreet.com (Chicago) - GBP/USD reaches new daily highs ahead of the European trading session closing as the pound strengthens and consolidates a 0.53% weekly advancement.
GBP/USD Technical Levels
Price action reveals the pair breaks through immediate limits and attempts consolidation after reaching new highs but fails to do so falling back to the 1.6380 front. Offered at 1.6388, the pair navigates between the supports aligned at 1.6360 (December 16th lows), 1.6334 (December 17th highs) ahead of 1.6288 (December 13th highs) and the resistances set at 1.6387 (session highs), 1.6417 (December 12th highs) ahead of 1.6463 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and flows above the EMA20.
GBP/USD Technical Levels
Price action reveals the pair breaks through immediate limits and attempts consolidation after reaching new highs but fails to do so falling back to the 1.6380 front. Offered at 1.6388, the pair navigates between the supports aligned at 1.6360 (December 16th lows), 1.6334 (December 17th highs) ahead of 1.6288 (December 13th highs) and the resistances set at 1.6387 (session highs), 1.6417 (December 12th highs) ahead of 1.6463 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and flows above the EMA20.