14 Jan 2014
GBP/USD at daily highs above 1.6450
FXstreet.com (Córdoba) - The GBP/USD extended gains to fresh daily highs during the American afternoon despite soft UK inflation data and above expectations US retail sales.
The GBP/USD picked up fresh momentum and broke above the 100-hour SMA, stretching to a daily high of 1.6464 before pulling back slightly. At time of writing, the Cable is trading at 1.6450, recording a 0.4% gain on Tuesday.
GBP/USD outlook
Valeria Bednarik, chief analyst at FXstreet.com commented that the GBP/USD shows a bullish tone in short-term charts, although it struggles to maintain it following UK inflation figures. As for technical levels, Bednarik locates immediate resistances at 1.6490 and 1.6530, while she places supports at 1.6415, 1.6380 and 1.6350.
The GBP/USD picked up fresh momentum and broke above the 100-hour SMA, stretching to a daily high of 1.6464 before pulling back slightly. At time of writing, the Cable is trading at 1.6450, recording a 0.4% gain on Tuesday.
GBP/USD outlook
Valeria Bednarik, chief analyst at FXstreet.com commented that the GBP/USD shows a bullish tone in short-term charts, although it struggles to maintain it following UK inflation figures. As for technical levels, Bednarik locates immediate resistances at 1.6490 and 1.6530, while she places supports at 1.6415, 1.6380 and 1.6350.