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GBP/USD jumps to 6-day highs

FXStreet (Córdoba) - GBP/USD spiked to fresh daily highs at the beginning of the American session in a bout of dollar selling following disappointing US economic data.

GBP/USD rallied nearly 40 pips in a matter of minutes and printed a 6-day high of 1.6146 before easing slightly. At time of writing, Cable is trading at 1.6135, recording a 0.31% gain on the day.

US data showed US pending home sales grew 0.3% in September versus a 0.5% gain expected, while Dallas Fed manufacturing business index fell short of expectations at 10.3 in October.

GBP/USD technical levels

In terms of technical levels, immediate resistances are seen at 1.6183 (Oct 21 high) and 1.6200 (psychological level) and 1.6225 (Oct 9 high). On the other hand, supports could be found at 1.6079 (intraday low), 1.6066 (10-day SMA) and 1.6015 (Oct 24 low).

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