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21 May 2014
GBP/USD advances ahead of BoE minutes, UK retail sales
FXStreet (Córdoba) - As it was the case yesterday, the GBP/USD is once again finding buyers in anticipation of major UK economic data.
The GBP/USD gathered momentum and broke above the 1.6865 resistance area - which is the 50% retracement of the 1.6995/1.6732 drop, climbing to a fresh 9-day peak of 1.6887 minutes ahead of the release of UK Apr retail sales figures (+0.5% exp. vs 0.1% prev.) and latest BoE meeting minutes.
GBP/USD levels to watch
The GBP/USD is currently trading at 1.6880, 0.25% above its opening price. Immediate resistances are now seen at 1.6900 (psychological level) and 1.6937 (May 9 high). on the flip side, supports could be found at 1.6831 (May 21 low) and 1.6800 (psychological level).
The GBP/USD gathered momentum and broke above the 1.6865 resistance area - which is the 50% retracement of the 1.6995/1.6732 drop, climbing to a fresh 9-day peak of 1.6887 minutes ahead of the release of UK Apr retail sales figures (+0.5% exp. vs 0.1% prev.) and latest BoE meeting minutes.
GBP/USD levels to watch
The GBP/USD is currently trading at 1.6880, 0.25% above its opening price. Immediate resistances are now seen at 1.6900 (psychological level) and 1.6937 (May 9 high). on the flip side, supports could be found at 1.6831 (May 21 low) and 1.6800 (psychological level).