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31 Mar 2014
GBP/USD capped at 1.6680
FXStreet (Edinburgh) - The bullish momentum around the sterling remains intact on Monday, with the GBP/USD trading in the upper band of the range at 1.6675/80.
GBP/USD up despite data
The pair found oxygen in the dovish tone from Chairwoman Yellen’s speech earlier on, hurting the greenback and propelling spot to fresh intraday highs. In the data space, the GBP managed to shrug off poor results from BoE’s Mortgage Approvals and Consumer Credit during February. “Technical indicators, like the RSI and MACDs, are constructive. A move above $1.6660 could signal another run at the $1.68 cap. Support is now pegged near $1.6600 and then $1.6550”, commented analysts at BBH Global Currency Strategy Team.
GBP/USD significant levels
The pair is now up 0.22% at 1.6678 and a break above 1.6700 (psychological level) would expose 1.6719 (high Mar.13) and then 1.6745 (high Mar.10). On the downside, the immediate support lines up at 1.6599 (low Mar.28) ahead of 1.6580 (daily cloud top) and finally 1.6560 (10-d MA).
GBP/USD up despite data
The pair found oxygen in the dovish tone from Chairwoman Yellen’s speech earlier on, hurting the greenback and propelling spot to fresh intraday highs. In the data space, the GBP managed to shrug off poor results from BoE’s Mortgage Approvals and Consumer Credit during February. “Technical indicators, like the RSI and MACDs, are constructive. A move above $1.6660 could signal another run at the $1.68 cap. Support is now pegged near $1.6600 and then $1.6550”, commented analysts at BBH Global Currency Strategy Team.
GBP/USD significant levels
The pair is now up 0.22% at 1.6678 and a break above 1.6700 (psychological level) would expose 1.6719 (high Mar.13) and then 1.6745 (high Mar.10). On the downside, the immediate support lines up at 1.6599 (low Mar.28) ahead of 1.6580 (daily cloud top) and finally 1.6560 (10-d MA).