7 Apr 2014
GBP/USD breaks above 1.6600
FXStreet (Córdoba) - The GBP/USD gathered enough momentum to break above the 1.6600 psychological level and rallied to fresh daily highs at the beginning of the American session as the greenback weakens broadly.
The GBP/USD rose past both the 1.6600 mark and the 100-hour SMA to print a daily high of 1.6623 in recent dealings. With the US calendar light for today's session, the pair might be confined to a phase of consolidation. At time of writing, the GBP/USD is trading at 1.6615, recording a 0.3% gain since opening.
GBP/USD levels to watch
Valeria Bendarik, chief analyst at FXStreet commented that technical readings show the upside remains limited but steady gains above 1.6610 may suggest further upward extensions.
The GBP/USD rose past both the 1.6600 mark and the 100-hour SMA to print a daily high of 1.6623 in recent dealings. With the US calendar light for today's session, the pair might be confined to a phase of consolidation. At time of writing, the GBP/USD is trading at 1.6615, recording a 0.3% gain since opening.
GBP/USD levels to watch
Valeria Bendarik, chief analyst at FXStreet commented that technical readings show the upside remains limited but steady gains above 1.6610 may suggest further upward extensions.