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18 Dec 2013
GBP/USD holds onto gains after hitting 2-year peak
FXstreet.com (Córdoba) - The Cable seems to be the only currency unwilling to give up gains versus the greenback as it remains firm in the wake of the Fed decision to begin tapering its bond purchases.
The GBP/USD spiked and reached its highest level since Aug 2011 at 1.6483 before retreating somewhat. However, the pound remains among the best performers as it found self-strength in a better than expected UK employment report published during the European session. At time of writing, the GBP/USD is trading at the 1.6420 zone, recording a 1.0% gain.
GBP/USD levels to watch
On the upside, immediate resistances line up at 1.6483 (Dec 18 high) and 1.6500 (psychological level), while immediate supports are seen at 1.6400 (former resistance/psychological level) and 1.6340 (20-hour SMA).
The GBP/USD spiked and reached its highest level since Aug 2011 at 1.6483 before retreating somewhat. However, the pound remains among the best performers as it found self-strength in a better than expected UK employment report published during the European session. At time of writing, the GBP/USD is trading at the 1.6420 zone, recording a 1.0% gain.
GBP/USD levels to watch
On the upside, immediate resistances line up at 1.6483 (Dec 18 high) and 1.6500 (psychological level), while immediate supports are seen at 1.6400 (former resistance/psychological level) and 1.6340 (20-hour SMA).