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11 Jun 2014
GBP/USD consolidates below 1.6800
FXStreet (Córdoba) - The GBP/USD entered a consolidation phase after the rally ignited by the UK employment figures stalled just a few pips below the 1.6800 mark.
The GBP/USD rose nearly half a cent during the European session and hit a high of 1.6796 underpinned by upbeat UK labor data (the jobless rate fell to 6.6%, Claimant count at -27.4K in April). However, the pair lacked momentum to clear the 1.6800 psychological level, and settled in a slim range just below, where it has spent the last hours.
GBP/USD technical levels
At time of writing, the GBP/USD is trading at the 1.6780 zone, up 0.15% on the day. As for technical levels, if the Cable breaks above 1.6800, next resistances are seen at 1.6817 (Jun 10 high), 1.6822 (30-day SMA) and then 1.6845 (Jun 6 high). On the flip side, supports could be found at 1.6738 (Jun 11 low) and 1.6723 (Jun 5 low) ahead of 1.6700/1.6690 (psychological level/100-day SMA).
The GBP/USD rose nearly half a cent during the European session and hit a high of 1.6796 underpinned by upbeat UK labor data (the jobless rate fell to 6.6%, Claimant count at -27.4K in April). However, the pair lacked momentum to clear the 1.6800 psychological level, and settled in a slim range just below, where it has spent the last hours.
GBP/USD technical levels
At time of writing, the GBP/USD is trading at the 1.6780 zone, up 0.15% on the day. As for technical levels, if the Cable breaks above 1.6800, next resistances are seen at 1.6817 (Jun 10 high), 1.6822 (30-day SMA) and then 1.6845 (Jun 6 high). On the flip side, supports could be found at 1.6738 (Jun 11 low) and 1.6723 (Jun 5 low) ahead of 1.6700/1.6690 (psychological level/100-day SMA).