4 Mar 2014
GBP/USD erases daily losses
FXStreet (Córdoba) - The GBP/USD came under pressure during the American afternoon as the greenback strengthened across the board supported by higher US yields.
Even though risk sentiment shifted to positive Tuesday, the GBP/USD failed to hold above 1.6700 and erased intraday gains, with disappointing UK construction data weighing on Cable. At time of writing, the GBP/USD is trading at the 1.6665 zone, virtually unchanged on the day.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.6640 (Mar 4 low), 1.6615 (Feb 27 low) and 1.6600 (psychological level). On the upside, immediate resistances line up at 1.6716 (Mar 4 high), 1.6750 (Mar 3 high) and 1.6768 (Feb 28 high).
Even though risk sentiment shifted to positive Tuesday, the GBP/USD failed to hold above 1.6700 and erased intraday gains, with disappointing UK construction data weighing on Cable. At time of writing, the GBP/USD is trading at the 1.6665 zone, virtually unchanged on the day.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.6640 (Mar 4 low), 1.6615 (Feb 27 low) and 1.6600 (psychological level). On the upside, immediate resistances line up at 1.6716 (Mar 4 high), 1.6750 (Mar 3 high) and 1.6768 (Feb 28 high).