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21 Apr 2014
GBP/USD sideways around 1.6800
FXStreet (Córdoba) - The GBP/USD is consolidating near opening levels around 1.6800 after its latest advance was capped during the European session.
The GBP/USD reached a high of 1.6819 but former 2014 high offered resistance, sending the Cable back below 1.6800 in recent dealings. At time of writing, the pair is trading at the 1.6795 zone, still a few pips above its opening price
The GBP/USD entered a consolidative/corrective phase after reaching a 4 ½-year high of 1.6841 Thursday supported by solid UK employment data.
GBP/USD levels to watch
In terms of technical levels, immediate GBP/USD supports are seen at the 1.6773/68 area (Apr 18 low/10-day SMA), 1.6719 (Ape 16 low) and 1.6700 (psychological level). On the other hand, resistances could be found at 1.6819 (Apr 21 high), 1.6841 (Apr 18 high) and 1.6871 (Nov 17 2009 high).
The GBP/USD reached a high of 1.6819 but former 2014 high offered resistance, sending the Cable back below 1.6800 in recent dealings. At time of writing, the pair is trading at the 1.6795 zone, still a few pips above its opening price
The GBP/USD entered a consolidative/corrective phase after reaching a 4 ½-year high of 1.6841 Thursday supported by solid UK employment data.
GBP/USD levels to watch
In terms of technical levels, immediate GBP/USD supports are seen at the 1.6773/68 area (Apr 18 low/10-day SMA), 1.6719 (Ape 16 low) and 1.6700 (psychological level). On the other hand, resistances could be found at 1.6819 (Apr 21 high), 1.6841 (Apr 18 high) and 1.6871 (Nov 17 2009 high).