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GBP/USD trades at fresh weekly highs - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik remarks that GBP/USD, which fell earlier today to 1.6302 is now trading at fresh weekly highs close to the 1.6400 level.

Key quotes

"Dollar intraday bearishness however, favors further advances in the pair with immediate resistance at 1.6410, 61.8% retracement of this September early fall."

"Gains above the level should favor a continuation up to 1.6460, in route to recent highs around 1.6530."

"To the downside, immediate support comes at 1.6345, 50% retracement of the same rally, with a break below it probably seeing another test of the 1.6300 figure."

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