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GBP/USD up to test key resistance on 1.61 handle

FXStreet (Barcelona) - GBP/USD is trading at 1.6098, up 0.02% on the day, having posted a daily high at 1.6119 and low at 1.6032.

GBP/USD has broken up to test the resistance through the 1.61 handle and eyes the 1.6120 resistance levels on the back of the FOMC minutes which tell us a stronger dollar is a risk to the economy. They also discussed other threats such as weaker growth in Europe. Guidance will be data dependant and they do not wish to make any commitments at this time. This is taking the shine off the dollar for the time being and allows more room for further unwinding in the greenback that we have been witnessing at the start of this week.

GBP/USD noteworthy levels

With spot trading at 1.6102, we can see next resistance ahead at 1.6119 (Daily High), 1.6131, 1.6142 (Daily Classic R1), 1.6145 (Hourly 200 SMA) and 1.6186. Support below can be found at 1.6096, 1.6084 (Daily Classic PP), 1.6074 (Hourly 20 EMA), 1.6071 (Weekly Classic PP) and 1.6063 (Hourly 100 SMA).

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