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3 Mar 2014
GBP/USD wavers above 1.6700
FXStreet (Córdoba) - The GBP/USD continues to consolidate within a slim range Monday, after a round of mixed UK data failed to set fresh direction for the pair.
The GBP/USD opened the week a tad lower and after falling to a low of 1.6700 during the European session it bounced toward 1.6750 on the back of better-than-expected UK manufacturing PMI and mortgage approvals. With these levels constraining today's range, the pair is currently trading at the 1.6730 zone, ahead of US data release.
GBP/USD levels to watch
As for technical levels, immediate resistances could be found at 1.6750 (Mar 3 high), 1.6768 (Feb 28 high) and 1.6800 (psychological level). On the flip side, supports are seen at 1.6700 (psychological level/daily low), 1.6680 (10-day SMA) and 1.6615 (Feb 27 low).
The GBP/USD opened the week a tad lower and after falling to a low of 1.6700 during the European session it bounced toward 1.6750 on the back of better-than-expected UK manufacturing PMI and mortgage approvals. With these levels constraining today's range, the pair is currently trading at the 1.6730 zone, ahead of US data release.
GBP/USD levels to watch
As for technical levels, immediate resistances could be found at 1.6750 (Mar 3 high), 1.6768 (Feb 28 high) and 1.6800 (psychological level). On the flip side, supports are seen at 1.6700 (psychological level/daily low), 1.6680 (10-day SMA) and 1.6615 (Feb 27 low).