22 Oct 2013
GBP/USD annihilates ceilings for a 3-week record at 1.6250; retreating
FXstreet.com (Chicago) - GBP/USD liquidated previously aligned resistances on bullish rally and uphill sprint to 1.6250, 3-week highs as the dollar continues fragile on disappointing job market results.
Ahead of the BoE vote, the UK released public sector net borrowing results at 9.368B vs. expected 10.400B. In the US, job market results were worse than expected.
GBP/USD Technical Levels
Price action reveals a strong rally above the 1.6230 zone and reaching 1.6250 peaks. Offered at 1.6230, the pair navigates between the supports aligned at 1.6225 (October 19th highs), 1.6196 (October 18th highs) followed by 1.6168 (October 16th highs) and the resistances set at 1.6247 (October 2nd highs), 1.6277 (December 20th 2012 highs) ahead of 1.63 (December 16th 2012 highs).
Ahead of the BoE vote, the UK released public sector net borrowing results at 9.368B vs. expected 10.400B. In the US, job market results were worse than expected.
GBP/USD Technical Levels
Price action reveals a strong rally above the 1.6230 zone and reaching 1.6250 peaks. Offered at 1.6230, the pair navigates between the supports aligned at 1.6225 (October 19th highs), 1.6196 (October 18th highs) followed by 1.6168 (October 16th highs) and the resistances set at 1.6247 (October 2nd highs), 1.6277 (December 20th 2012 highs) ahead of 1.63 (December 16th 2012 highs).