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17 Mar 2014
GBP/USD rises above 1.6650 and turns positive
FXStreet (Córdoba) - The GBP/USD found buyers and erased intraday losses, climbing to fresh highs at the beginning of the American session and managed to break above 1.6650.
The GBP/USD shrugged off the mild negative tone seen during the European trade and rose to a fresh daily high of 1.6665 supported by the risk-on sentiment. At time of writing, the Cable is trading at the 1.6660 zone, still up 0.1% on the day.
GBP/USD technical perspective
"In the 4 hours chart technical readings also present a shy negative outlook in neutral territory, with 200 EMA also reinforcing the strong static support around 1.6600. Current advance on the other hand, supports more range to come, with a break above 1.6650 favoring a test of the 1.6690 next Fibonacci resistance", said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates next resistances at 1.6690 and 1.6745, while she sees supports at 1.6600, 1.6560 and 1.6520.
The GBP/USD shrugged off the mild negative tone seen during the European trade and rose to a fresh daily high of 1.6665 supported by the risk-on sentiment. At time of writing, the Cable is trading at the 1.6660 zone, still up 0.1% on the day.
GBP/USD technical perspective
"In the 4 hours chart technical readings also present a shy negative outlook in neutral territory, with 200 EMA also reinforcing the strong static support around 1.6600. Current advance on the other hand, supports more range to come, with a break above 1.6650 favoring a test of the 1.6690 next Fibonacci resistance", said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates next resistances at 1.6690 and 1.6745, while she sees supports at 1.6600, 1.6560 and 1.6520.