Forex: GBP/USD: Cable breaks range and rises to test 1.6000

By @ibtimes on

FXstreet.com (Córdoba) - The Dollar weakened across the board after new home sales data. GBP/USD rose from 1.5935 to 1.5994 breaking a range and reaching a fresh intra-day high. Currently the pair trades at 1.5978/82, 0.10% above today's opening price. If the pair rises above 1.6000, the next resistance could be located at 1.6030 (Dec 21 low) and above at 1.6050 and 1.6125.

Valeria Bednarik, collaborator at FXstreet.com affirms: Pound remains under pressure, holding a slightly bearish perspective. Capped under 1.5980 area, Above that level pair could attempt a recovery to 1.6010 area, ahead of 1.6060, while 1.5920 likely to remain holding the downside today.

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