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18 Dec 2013
GBP/USD rallies after employment data, BoE minutes
FXstreet.com (Córdoba) - An already firm pound extended gains to fresh weekly highs against the dollar after the release of the BoE minutes and better than expected UK claimant count.
The GBP/USD broke above the 10-day SMA and rose to a high of 1.6364 after BoE minutes showed the MPC voted unanimously to keep its policy unchanged while October claimant count fell by 36,700 and the unemployment rate declined to 7.4% versus 7.6% expected. The GBP/USD is currently trading at the 1.6350 zone, recording a 0.6% gain on the day ahead of the key FOMC decision.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could face immediate resistances at 1.6400 (psychological level) and 1.6418 (Dec 12 high), while on the other hand, supports are seen at 1.6260 (daily low) and 1.6219 (Dec 17 low) ahead of 1.6200 (psychological level).
The GBP/USD broke above the 10-day SMA and rose to a high of 1.6364 after BoE minutes showed the MPC voted unanimously to keep its policy unchanged while October claimant count fell by 36,700 and the unemployment rate declined to 7.4% versus 7.6% expected. The GBP/USD is currently trading at the 1.6350 zone, recording a 0.6% gain on the day ahead of the key FOMC decision.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could face immediate resistances at 1.6400 (psychological level) and 1.6418 (Dec 12 high), while on the other hand, supports are seen at 1.6260 (daily low) and 1.6219 (Dec 17 low) ahead of 1.6200 (psychological level).