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GBP/USD falters ahead of 1.4300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GBP/USD extended gains to fresh 1-week highs on renewed USD weakness, but the pound faltered ahead of the 1.4300 level.

    GBP/USD is extending gains into a second day on Monday, having risen more than 180 pips throughout the day to a peak of 1.4285 before taking a breather. At time of writing, Cable is trading at 1.4256, still up 1.02% on the day.

    GBP/USD levels to watch

    In terms of technical levels, immediate resistances could be found at 1.4285 (Apr 11 high), 1.4320 (Apr 4 high) and 1.4357 (Apr 1 high). On the flip side, supports are seen at 1.4105/00 (Apr 11 low/psychological level), 1.4040 (Apr 8 low) and 1.4004 (Apr 4 low).
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