GBP/USD Clings to Daily Gains
The pound has been recovering ground against a softer greenback on Monday, with GBP/USD reaching 6-day highs at the 1.4250 area.
The
British currency is among the best performers of the day, posting
decent gains versus the yen and the euro as well. As for Cable, the pair
has risen more than 100 pips throughout the day and scored a peak of
1.4250 before pausing the advance. At time of writing, GBP/USD is
trading at 1.4237, up 0.89% on the day.
Data-wise, in the absence
of major releases, the main focus will remain on the Federal Reserve
closed meeting where the Board will discuss the advance and discount
rates.
GBP/USD levels to watch
In terms
of technical levels, next resistances could be found at 1.4250 (daily
high), 1.4278 (Apr 5 high) and 1.4320 (Apr 4 high). On the other hand,
supports are seen at 1.4105/00 (Apr 11 low/psychological level), 1.4040
(Apr 8 low) and 1.4004 (Apr 4 low).
(Market News Provided by FXstreet)
