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17 Oct 2013
GBP/USD extends gains after US claims
FXstreet.com (Córdoba) - The GBP/USD extended gains to a fresh high at the beginning of the American session after data showed US initial jobless claims dropped less than expected last week, weighing on an already weak dollar.
GBP/USD broke above 1.6100 and climbed to its highest level in 9 days at 1.6122, stalling just 1 pips below its Oct 8 peak after US jobless claims came in at 358K versus 335K expected. The pound was also supported Thursday by strong UK retail sales data.
GBP/USD levels to watch
At time of writing, GBP/USD is trading at the 1.6110 area, recording a 1.0% daily gain, with immediate resistances at 1.6123 (Oct 8 high), followed by 1.6160 (Sep 19 high) and 1.6177 (Oct 4 high). On the downside, supports are now seen at 1.6060/50 (20-day SMA/intraday support) and 1.6000 (psychological level).
GBP/USD broke above 1.6100 and climbed to its highest level in 9 days at 1.6122, stalling just 1 pips below its Oct 8 peak after US jobless claims came in at 358K versus 335K expected. The pound was also supported Thursday by strong UK retail sales data.
GBP/USD levels to watch
At time of writing, GBP/USD is trading at the 1.6110 area, recording a 1.0% daily gain, with immediate resistances at 1.6123 (Oct 8 high), followed by 1.6160 (Sep 19 high) and 1.6177 (Oct 4 high). On the downside, supports are now seen at 1.6060/50 (20-day SMA/intraday support) and 1.6000 (psychological level).