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12 Sep 2013
GBP/USD reaches fresh 7-month high
FXstreet.com (Córdoba) - The GBP/USD broke to fresh 7-month highs as the greenback came under renewed pressure at the beginning of the American session.
Following a brief drop in the wake of US jobless claims, GBP/USD bounced and reversed intraday losses, reaching a high of 1.5838 in recent dealings. At time of writing, the Cable is trading at the 1.5830 area, where it records a 0.1% gain on the day, the fifth in a row.
GBP/USD maintains a strong positive tone
From a technical perspective, Valeria Bednarik, analyst at FXstreet.com notes the GBP/USD maintains a strong positive tone that helps to keep the downside limited. “Overall, the dominant trend is bullish, and dips are mostly seen as buying opportunities, with the downside limited by 1.5750 static support”.
The analyst places immediate resistance levels at 1.5860 and 1.5900, while she sees supports at 1.5750, 1.5710 and 1.5660.
Following a brief drop in the wake of US jobless claims, GBP/USD bounced and reversed intraday losses, reaching a high of 1.5838 in recent dealings. At time of writing, the Cable is trading at the 1.5830 area, where it records a 0.1% gain on the day, the fifth in a row.
GBP/USD maintains a strong positive tone
From a technical perspective, Valeria Bednarik, analyst at FXstreet.com notes the GBP/USD maintains a strong positive tone that helps to keep the downside limited. “Overall, the dominant trend is bullish, and dips are mostly seen as buying opportunities, with the downside limited by 1.5750 static support”.
The analyst places immediate resistance levels at 1.5860 and 1.5900, while she sees supports at 1.5750, 1.5710 and 1.5660.