GBP/USD Retreats from Highs, Back Below 1.4400
After advancing to fresh multi-week tops near 1.4440, GBP/USD lost impetus and is now retreating to the 1.43860 area.
GBP/USD fades the advance on USD bids
A
bout of buying interest in the US dollar is now weighing on the pair,
prompting it to abandon de area of 4-week peaks near 1.4400 and to
re-visit 1.4360/55. Once again, USD-bulls clustered around the support
area of 93.90/94.00 in the US Dollar Index seem to be behind the down
move.
Ahead in the NA session, BoE’s M.Carney is due to speak at the United Nations General Assembly.
GBP/USD levels to consider
As
of writing the pair is advancing 0.17% at 1.4358 facing the next hurdle
at 1.4460 (high Mar.30) ahead of 1.4517 (high Mar.18) and finally
1.4670 (monthly high Feb.4). On the flip side, a breakdown of 1.4249
(55-day sma) would open the door to 1.4092 (38.2% Fibo of 1.3833-1.4517)
and then 1.4004 (low Apr.6).
