FXstreet.com (Córdoba) - Cable is back above 1.6700 again. GBP/USD is still down for the day but has managed to recover more than a hundred pips from the lows of the day that lie at 1.6605. Currently the pair trades at 1.6725/30, 0.16% below today's opening price. The Pound is falling for the first time in more than a week. On the upside immediate resistance is located at 1.6740/50 and above at 1.6785.
Michael J. Malpede, analyst at Easy Forex affirms: The technical outlook for GBP has improved with this weeks rally above 1.6700. Expect near-term support at 1.6617 the November 9th low with resistance at 1.6800.