FXstreet.com (Barcelona) - The GBP/USD reached its highest level in more than a week following better financial-sector outlook. Barclays Plc reported a strong start to 2009, spurring gains in the banking sector.
The pair was also boosted as the G- 20 vowed to work together to clean up the toxic assets that led to huge losses for UK and international banks. The GBP/USD is in a downward sloping trading channel, said Hans Nilsson, analyst at CMS Forex.
There are support in the 1.35-area and the resistance from the upper trading band in the 1.42-area. If the resistance is broken, the pair will test the important resistance from the long-term downtrend in the 1.44-1.45 area.