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16 Aug 2013
GBP/USD consolidates below 1.5650, US data eyed
FXstreet.com (Córdoba) - The GBP/USD remains stuck in a narrow range on Friday, consolidating last days’ gains.
GBP/USD climbed over 230 pips since Wednesday and reached a 2 month high of 1.5651 past American session before losing momentum and settling in a range. Having spent most of the day within 1.5615 and 1.5650, the pair is currently trading at 1.5640, virtually unchanged since opening ahead of US housing starts and building permits data.
GBP/USD technical levels
In terms of technical levels, if GBP/USD manages to break above the 1.5650 level, next resistances could be found at 1.5678 (Jun 19 high) and 1.5700 (psychological level). On the other hand, supports are seen at 1.5615 (daily low) and 1.5600 (psychological level).
GBP/USD climbed over 230 pips since Wednesday and reached a 2 month high of 1.5651 past American session before losing momentum and settling in a range. Having spent most of the day within 1.5615 and 1.5650, the pair is currently trading at 1.5640, virtually unchanged since opening ahead of US housing starts and building permits data.
GBP/USD technical levels
In terms of technical levels, if GBP/USD manages to break above the 1.5650 level, next resistances could be found at 1.5678 (Jun 19 high) and 1.5700 (psychological level). On the other hand, supports are seen at 1.5615 (daily low) and 1.5600 (psychological level).