FXstreet.com (Córdoba) - The Pound is moving sideways against the Dollar. GBP/USD rebounded at 1.6530 and rose back to 1.6590 but failed to break above. Currently trades at 1.6562/66, 0.22% below today's opening price.
Next support levels lie at 1.6500 (session low) and below at 1.6460 (Nov 20 low) and 1.6400 (Nov 4 low). On the upside, resistance levels could be located at 1.6595/00 (intra-day high) and above there, 1.6650 (Nov 23 high) and 1.6700.
Darrell Jobman, from TraderPlanet.com, LLC affirms: The UK currency found some support below 1.65 against the dollar on Monday, primarily due to dollar weakness rather than any backing for Sterling and pushed to highs near 1.6650 before consolidating near 1.66 later in the session. (…) There will still be important vulnerabilities surrounding the government debt position and overall Sterling sentiment is liable to remain very fragile. Markets will continue to monitor comments from Bank of England officials very closely with Governor King and other MPC members due to testify on the quarterly inflation report during Tuesday.