Back
19 May 2014
GBP/USD climbs to daily highs
FXStreet (Córdoba) - The GBP/USD is recovering some ground at the beginning of the American session, after a short-lived dip amid news AstraZeneca had rejected Pfizer's final offer.
The GBP/USD fell to near 1.6800 during the European session, but bears lacked conviction allowing the Cable to bounce afterwards. The GBP/USD has risen to a 5-day high of 1.6844 but trading remains subdued as investors take a wait-and-see stance ahead of key GBP events later this week including UK CPI Tuesday, BoE minutes and retail sales Wednesday and UK GDP Thursday.
GBP/USD levels to watch
At time of writing, the GBP/USD is trading at 1.6835, still up 0.12% on the day, with immediate resistances seen at 1.6844/46 (May 19 high/20-day SMA), 1.6862 (50% Fibo of 1.6995/1.6732) and 1.6874 (May 14 high). On the other hand, supports could be found at 1.6804 (May 19 low), 1.6783 (May 16 low), and 1.6732 (May 15 low).
The GBP/USD fell to near 1.6800 during the European session, but bears lacked conviction allowing the Cable to bounce afterwards. The GBP/USD has risen to a 5-day high of 1.6844 but trading remains subdued as investors take a wait-and-see stance ahead of key GBP events later this week including UK CPI Tuesday, BoE minutes and retail sales Wednesday and UK GDP Thursday.
GBP/USD levels to watch
At time of writing, the GBP/USD is trading at 1.6835, still up 0.12% on the day, with immediate resistances seen at 1.6844/46 (May 19 high/20-day SMA), 1.6862 (50% Fibo of 1.6995/1.6732) and 1.6874 (May 14 high). On the other hand, supports could be found at 1.6804 (May 19 low), 1.6783 (May 16 low), and 1.6732 (May 15 low).