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5 Mar 2014
GBP/USD capped ahead of 1.6700
FXStreet (Córdoba) - The GBP/USD inched higher and printed fresh daily lows following slightly better-than-expected UK services PMI.
The GBP/USD rose to a peak of 1.6693 but failed to gather enough momentum to challenge the 1.6700 level. The UK Markit services PMI fell to 58.2 in February from 58.3, versus 58.0 expected, briefly boosting the pound. At time of writing, the GBP/USD is trading at the 1.6680 zone, still 0.1% above its opening price.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6700 (psychological level), 1.6716 (Mar 4 high) and 1.6750 (Mar 3 high). On the flip side, supports are seen at 1.6655 (Mar 5 low), 1.6640 (Mar 4 low) and 1.6620 (20-day SMA).
The GBP/USD rose to a peak of 1.6693 but failed to gather enough momentum to challenge the 1.6700 level. The UK Markit services PMI fell to 58.2 in February from 58.3, versus 58.0 expected, briefly boosting the pound. At time of writing, the GBP/USD is trading at the 1.6680 zone, still 0.1% above its opening price.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate resistances at 1.6700 (psychological level), 1.6716 (Mar 4 high) and 1.6750 (Mar 3 high). On the flip side, supports are seen at 1.6655 (Mar 5 low), 1.6640 (Mar 4 low) and 1.6620 (20-day SMA).