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GBP/USD fails to hold above 1.4300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    GBP/USD has pulled back from daily highs and settled below the 1.43 mark over the last hours, surrendering some of its early gains.

    GBP/USD rose more than 130 pips during the European session and reached a peak of 1.4320 but the rally faltered, confining the pair to a quieter phase in the absence of first-tier data. At time of writing, Cable is trading at 1.4273, still up 0.41% on the day.

    GBP/USD technical levels

    As for technical levels, next resistances are seen at 1.4320/27 (Apr 4 high/100-hour SMA), 1.4370 (Apr 1 high) and 1.4425 (Mar 31 high). On the flip side, immediate supports could be faced at 1.4190 (Apr 4 low), 1.4170 (Apr 1 low) and 1.4108 (Mar 25 low).
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