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GBP/USD steadies after choppy week

FXStreet (Córdoba) - Following a quite choppy week, GBP/USD started Monday on a quiet note, having spent the last sessions consolidating in a tight range near its Friday's close.

Now that the Scottish referendum is behind and following the majority's decision to remain in the UK, Cable investors turn their attention back to the Bank of England and the timing of the first rate hike, which was feared to be delayed if Scotland got its independence.

After the latest upside attempt was capped by the 1.6365 area, GBP/USD settled in a slim range just above 1.6320. At time of writing, the pair is trading at 1.6330, recording a 0.15% gain on the day.

GBP/USD technical levels

In terms of technical levels, GBP/USD could find immediate supports at 1.6300 (psychological level), 1.6283 (Sept 19 low) and 1.6261 (10-day SMA). On the flip side, resistances are seen at 1.6365 (intraday high), 1.6408 (Sept 18 high) and 1.6465 (Sept 4 high).

Chancellor Merkel speaks about investment with French PM Valls

French PM Manuel Valls visited Berlin on Monday to hold talks with German Chancellor Angela Merkel on ways of boosting growth in the Eurozone. During the press conference following their meeting the German leader praised the French reform plan which she hopes will effectively improve competitiveness.
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EUR/USD deflates to 1.2840

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