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27 Feb 2014
GBP/USD falters ahead of 1.6700
FXStreet (Córdoba) - The GBP/USD has continued to advance during the American afternoon and turned intraday positive as risk aversion eased and US stocks trade positively.
The GBP/USD rallied more than 80 pips during the New York session and broke above the 1.6680 area as the risk rally resumed. However, the pair stalled just a couple of pips shy of the 1.6700 psychological level and retreated slightly. At time of writing, the GBP/USD is trading around 1.6685, recording a 0.1% gain Thursday, having hit a high of 1.6698.
GBP/USD technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes the Cable holds a neutral short-term perspective and "a break above 1.6720 or below 1.6590 required to set a direction".
The GBP/USD rallied more than 80 pips during the New York session and broke above the 1.6680 area as the risk rally resumed. However, the pair stalled just a couple of pips shy of the 1.6700 psychological level and retreated slightly. At time of writing, the GBP/USD is trading around 1.6685, recording a 0.1% gain Thursday, having hit a high of 1.6698.
GBP/USD technical perspective
From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes the Cable holds a neutral short-term perspective and "a break above 1.6720 or below 1.6590 required to set a direction".