23 Dec 2013
GBP/USD marginally higher on a quiet session
FXstreet.com (Córdoba) - Cable is rising marginally against the US Dollar, on a low volume session on Monday trading at the moment of writing above 1.6340 after finding support at 1.6320, barely above Friday's lows. The Pound reach a daily high at 1.6359 but pulled back, being unable to consolidate above 1.6350.
The GBP/USD ended last Friday with a weekly gain of more than 50 pips, after moving in a considerable range, hitting the lowest price on Tuesday at 1.6218 (3-week low) and the highest on Wednesday at 1.6482 (2-year highs).
GBP/USD outlook
On a long-term outlook the Kshitij Consultancy Services Team concludes that as long as the GBP/USD stays above 1.62, “more rallies may emerge towards 1.65, above which the next hurdle comes at 1.6740-50.”
The GBP/USD ended last Friday with a weekly gain of more than 50 pips, after moving in a considerable range, hitting the lowest price on Tuesday at 1.6218 (3-week low) and the highest on Wednesday at 1.6482 (2-year highs).
GBP/USD outlook
On a long-term outlook the Kshitij Consultancy Services Team concludes that as long as the GBP/USD stays above 1.62, “more rallies may emerge towards 1.65, above which the next hurdle comes at 1.6740-50.”