GBP/USD Revisits February Highs and Retreats
GBP/USD
rose to the 1.4670 area during the New York session but lacked momentum
to overcome the resistance area which had capped the upside back in
February.
GBP/USD made a marginal new high at 1.4669 amid broad
USD weakness, but it was rejected and pulled back to the 1.4620 zone,
where it trades around 0.14% higher on the day.
Cable is on
track to post its third weekly gain as it moves away from multi-year
lows scored earlier this year at the 1.3835 region.
GBP/USD levels to watch
In
terms of technical levels, next resistances could be found at 1.4667/69
(Feb 4, Apr 29 highs) and 1.4700 (psychological level). On the other
hand, supports are seen at 1.4575 (Apr 29 low), 1.4522 (Apr 28 low) and
1.4494 (Apr 27 low).
