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14 Feb 2014
GBP/USD to close above 1.6740 at 3-year highs
FXStreet (San Francisco) - The Sterling doesn't take a rest in its enterprise to gain ground against the US Dollar and after testing several times the 1.6740, the cable is slowly breaking above this level. The GBP/USD is now pricing at 1.6745.
With 0.52% daily gains, the Cable's short term perspective is neutral according to the FXStreet trend index in the 15-minute chart. Indicators are mixed as Stochastic and CCI are bearish while Momentum is positive and the MACD is neutral.
The GBP/USD is closing its seventh winning day in a row at 3-year highs at 1.6445. "Barriers are rumored at 1.6750. We've been as high as 1.6742 while the April 2011 high is at 1.6747," pointed Jamie Coleman from FXBeat in a recent piece.
If the pair holds above 1.6440, next resistance would be at 1.6750 followed by 1.6845. On the flip side, a breakdown of 1.6425 (low Feb.12) would expose 1.6392 (low Feb.11). On the downside, 1.6720, 1.6690 and 1.666 are supports.
With 0.52% daily gains, the Cable's short term perspective is neutral according to the FXStreet trend index in the 15-minute chart. Indicators are mixed as Stochastic and CCI are bearish while Momentum is positive and the MACD is neutral.
The GBP/USD is closing its seventh winning day in a row at 3-year highs at 1.6445. "Barriers are rumored at 1.6750. We've been as high as 1.6742 while the April 2011 high is at 1.6747," pointed Jamie Coleman from FXBeat in a recent piece.
If the pair holds above 1.6440, next resistance would be at 1.6750 followed by 1.6845. On the flip side, a breakdown of 1.6425 (low Feb.12) would expose 1.6392 (low Feb.11). On the downside, 1.6720, 1.6690 and 1.666 are supports.