27 Dec 2013
GBP/USD hits fresh 28-month high
FXstreet.com (Córdoba) - The GBP/USD pierced above the 1.6500 level and printed its highest level in more than 2 years Friday amid thin volume.
The GBP/USD rallied over 100 pips over the last sessions and after breaking above the 1.6480 zone it stretched to its highest level since Aug 2011 at 1.6515. Following the steep advance, the Cable is now consolidating gains at the 1.6505 area, 0.6% above its opening price.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6532 (Aug 24 2011 high), 1.6570 (Aug 23 2011 high) and 1.6600 (psychological level). On the other hand, supports could be faced at 1.6404 (daily low) and 1.6366 (21-day SMA) ahead of 1.6320 (Dec 23 low).
The GBP/USD rallied over 100 pips over the last sessions and after breaking above the 1.6480 zone it stretched to its highest level since Aug 2011 at 1.6515. Following the steep advance, the Cable is now consolidating gains at the 1.6505 area, 0.6% above its opening price.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6532 (Aug 24 2011 high), 1.6570 (Aug 23 2011 high) and 1.6600 (psychological level). On the other hand, supports could be faced at 1.6404 (daily low) and 1.6366 (21-day SMA) ahead of 1.6320 (Dec 23 low).