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GBP/USD rises further, approaches 1.4400

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The British pound is outperforming other majors peers, having climbed to fresh daily highs against the dollar during the New York session.

    GBP/USD
    continued to move higher, retracing most of its Friday’s selloff, and reached a daily peak of 1.4386 in recent dealings, but lacked momentum to retest the 1.4400 area. At time of writing, GBP/USD is trading at 1.4381, up 0.93% on the day.

    GBP/USD technical levels

    In terms of technical levels, next resistances could be faced at 1 1.4412 (Jan 29 high) and 1.4426 (Jan 15 high) and 1.4559 (Jan 12 high). On the flip side, supports are seen at 1.4170 (Jan 29 low) 1.4124 (Jan 20 low) and then 1.4078 (7-year low, Jan 21).
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