20 Nov 2013
GBP/USD rises to fresh 3-week highs
FXstreet.com (Córdoba) - Following a knee-jerk dip, the GBP/USD resumed the upside and printed fresh highs after the BoE minutes showed the Monetary Policy Comitee voted unanimously to keep rates and QE on hold.
The GBP/USD initially moved lower but bounced from the 1.6120 zone and rose to a fresh 3-week peak of 1.6161 during the European session. However, the Cable found resistance and eased slightly to currently trade at the 1.6145, 0.2% above its opening price.
GBP/USD technical levels
In terms of technical levels, if the GBP/USD breaks decisively above 1.6160, it could extend gains toward 1.6207 (Oct 28 high) and 1.6246 (Oct 25 high). On the flip side, supports are now seen at 1.6102/00 (daily low/psychological level) and 1.6058 (Nov 19 low).
The GBP/USD initially moved lower but bounced from the 1.6120 zone and rose to a fresh 3-week peak of 1.6161 during the European session. However, the Cable found resistance and eased slightly to currently trade at the 1.6145, 0.2% above its opening price.
GBP/USD technical levels
In terms of technical levels, if the GBP/USD breaks decisively above 1.6160, it could extend gains toward 1.6207 (Oct 28 high) and 1.6246 (Oct 25 high). On the flip side, supports are now seen at 1.6102/00 (daily low/psychological level) and 1.6058 (Nov 19 low).