31 Jan 2014
GBP/USD holds above 1.6445
FXstreet.com (Córdoba) - The GBP/USD weakened during the European session and briefly dipped below 1.6450 to match yesterday's low of 1.6445.
In the absence of first-tier economic data, risk-off mood prevails ahead of the weekend with EM issues still in the spotlight, supporting the dollar and the yen. The GBP/USD came under pressure and fell to 1.6445 before quickly bouncing to the 1.6470 zone. At time of writing, the Cable is trading at the 1.6455 zone, recording a 0.2% loss on the day.
The GBP/USD failed to sustain weekly gains and pulled back sharply from a 32-month peak of 1.6667 scored last week.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6497/1.6500 (Jan 31 high/psychological level), 1.6528 (10-day SMA) and 1.6565 (Jan 30 high). On the downside, supports are seen at 1.6445 (Jan 31 & 30 lows) and 1.6400 (50-day SMA/psychological level).
In the absence of first-tier economic data, risk-off mood prevails ahead of the weekend with EM issues still in the spotlight, supporting the dollar and the yen. The GBP/USD came under pressure and fell to 1.6445 before quickly bouncing to the 1.6470 zone. At time of writing, the Cable is trading at the 1.6455 zone, recording a 0.2% loss on the day.
The GBP/USD failed to sustain weekly gains and pulled back sharply from a 32-month peak of 1.6667 scored last week.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6497/1.6500 (Jan 31 high/psychological level), 1.6528 (10-day SMA) and 1.6565 (Jan 30 high). On the downside, supports are seen at 1.6445 (Jan 31 & 30 lows) and 1.6400 (50-day SMA/psychological level).