FXstreet.com (Córdoba) - The Pound is holding below 1.6700 after finding resistance at 1.6685 against the Dollar. GBP/USD currently trades at 1.6674/78, 0.52% above today's opening price. The pair rose earlier to 1.6746 reaching the highest price of the week but then weakened and fell to 1.6640.
On the downside, the Pound could find support at 1.6620 and below here, 1.6570 (Nov 13 low) and 1.6500/15 (Nov 12/24 low). On the upside resistance levels lie at 1.6750 session high, and above here, 1.6755 (Nov 19 high) and 1.6800.
Michael J. Malpede, analyst at Easy Forex affirms: GBP traded higher supported by improving risk appetite ,higher global equity markets record high in gold and in reaction to the Feds confirmation that interest rates will remain low for an extended period. (…)The technical outlook for GBP is mixed as GBP struggles to hold above 1.6700. Expect near-term support at 1.6590 with resistance at 1.6845 for November 18th high.