FXstreet.com (Córdoba) - Cable extended its recovery after the opening bell at Wall Street. GPB/USD started to rise after bottoming at 1.6605 (intra-day low), when an agency warned about the future of United Kingdom's credit rating. The pair rose back above 1.6700 to the 1.6440/50 zone, where it has a resistance zone. Currently it trades at 1.6714/20, 0.25% below today's opening price. The pair is falling for the first time in more than a week.
If resistance area at 1.6740/50 is breached, the Pound could advance up to 1.6850 over the next couple of sessions, says the Kshitij Consultancy Service Team: Short term important Resistance at 1.6740-50. If this barrier is breached, we may see the pair rise once again towards 1.6850 over the next couple of sessions.