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12 Jun 2014
GBP/USD shoots up to eye 1.69 handle
FXStreet (Guatemala) - GBP/USD is trading at 1.6880 after a sharp rally on the closing bell in wall street.
GBP/USD has been chasing back way from the 1.68 handle while Karen Jones, chief analyst at Commerzbank explained that slightly longer term, they continue to believe that the market has topped at 1.70… “We would expect losses to 1.6480/67 the 23.6% retracement of the 2013-2014 move and the March low”.
GBP/USD Levels
Current price is 1.6880, with resistance ahead at 1.6895 (Daily Classic R3) and 1.6899 (Monthly High). Next support to the downside can be found at 1.6821 (Daily Classic R1), 1.6820 (Weekly High), 1.6820 (Hourly 20 EMA), 1.6813 (Yesterday's High) and 1.6794 (Hourly 100 SMA).
GBP/USD has been chasing back way from the 1.68 handle while Karen Jones, chief analyst at Commerzbank explained that slightly longer term, they continue to believe that the market has topped at 1.70… “We would expect losses to 1.6480/67 the 23.6% retracement of the 2013-2014 move and the March low”.
GBP/USD Levels
Current price is 1.6880, with resistance ahead at 1.6895 (Daily Classic R3) and 1.6899 (Monthly High). Next support to the downside can be found at 1.6821 (Daily Classic R1), 1.6820 (Weekly High), 1.6820 (Hourly 20 EMA), 1.6813 (Yesterday's High) and 1.6794 (Hourly 100 SMA).