15 Apr 2014
GBP/USD extends gains to 1.6740
FXStreet (San Francisco) - The Sterling is extending its recovery from 1.6660, priced overnight, against the US Dollar as the GBP/USD is posting further gains to 1.6740.
The US CPI came above expectations with 1.5% YoY figure in March. A higher inflation provides a relief from deflation fears as the Fed has extra-time to deal with a interest's rates hike.
GBP/USD sentiment
Currently, GBP/USD is trading at 1.6727, flat on the day, having posted a daily high at 1.6742 and low at 1.6660. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
Levels to watch
If the pair manages to break above the 1.6740, it would face next resistances at 1.6755, 1.6785 and 1.6800. On the downside, 1.6700, 1.6660 and 1.6620 are supports.
The US CPI came above expectations with 1.5% YoY figure in March. A higher inflation provides a relief from deflation fears as the Fed has extra-time to deal with a interest's rates hike.
GBP/USD sentiment
Currently, GBP/USD is trading at 1.6727, flat on the day, having posted a daily high at 1.6742 and low at 1.6660. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
Levels to watch
If the pair manages to break above the 1.6740, it would face next resistances at 1.6755, 1.6785 and 1.6800. On the downside, 1.6700, 1.6660 and 1.6620 are supports.