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18 Oct 2013
GBP/USD extends correction to 1.6170
FXstreet.com (San Francisco) - After trading higher in the European session and reaching fresh 2-week highs at 1.6225, the GBP/USD has been trading in consolidation mode just below the 1.6200 area and now the cable is testing the 1.6170 level.
The GBP/USD extended yesterday's advance to the mentioned high but faltered ahead of early October 9-month highs at 1.6260 and pulled back. Currently the pair is trading at 1.6180, 0.10% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hout timeframe.
GBP/USD technical levels
In terms of technical levels, immediate resistances for GBP/USD are seen at 1.6225 (daily high), 1.6240 (Oct 3 high) and 1.6259 (Oct 1 high), while supports could be found at 1.6141 (daily low) and 1.6100 (psychological level).
The GBP/USD extended yesterday's advance to the mentioned high but faltered ahead of early October 9-month highs at 1.6260 and pulled back. Currently the pair is trading at 1.6180, 0.10% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hout timeframe.
GBP/USD technical levels
In terms of technical levels, immediate resistances for GBP/USD are seen at 1.6225 (daily high), 1.6240 (Oct 3 high) and 1.6259 (Oct 1 high), while supports could be found at 1.6141 (daily low) and 1.6100 (psychological level).