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8 Jan 2014
GBP/USD eases from highs
FXstreet.com (Córdoba) - The GBP/USD managed to break above the 10-day SMA and climbed to fresh daily highs during the New York session.
While the GBP/USD reached a 5-day peak of 1.6471, the EUR/GBP is printing lows not seen in over a year below 0.8950 as the pound strengthens across the board. However, the GBP/USD faced resistance and pulled back a tad to currently trade around 1.6450, recording a 0.3% gain on the day.
GBP/USD technical outlook
From a technical perspective, Valeria Bednarik notes that readings remain positive in 4-hour chart, "suggesting more gains are likely, particularly if the pair manages to break above 1.6470 area immediate resistance".
The analyst locates next resistances at 1.6470, 1.6525 and 1.6560, while she places supports at 1.6430, 1.6390 and 1.6340.
While the GBP/USD reached a 5-day peak of 1.6471, the EUR/GBP is printing lows not seen in over a year below 0.8950 as the pound strengthens across the board. However, the GBP/USD faced resistance and pulled back a tad to currently trade around 1.6450, recording a 0.3% gain on the day.
GBP/USD technical outlook
From a technical perspective, Valeria Bednarik notes that readings remain positive in 4-hour chart, "suggesting more gains are likely, particularly if the pair manages to break above 1.6470 area immediate resistance".
The analyst locates next resistances at 1.6470, 1.6525 and 1.6560, while she places supports at 1.6430, 1.6390 and 1.6340.