FXstreet.com (Córdoba) - As the dollar continues to weaken ahead of the FOMC decision next Thursday, the Cable managed to advance firmly above 1.6000 and printed a fresh 4-month high during the European session, also supported by better-than-expected UK trade data.
GBP/USD climbed over 50 pips throughout the day and having surpassed Friday's peak (1.6032), it reached its highest since mid-May at 1.6035 before losing momentum. At time of writing, the cross is quoting at the 1.6020 zone, 0.2% above its opening price.
As for technical levels, on the upside next resistances are seen at 1.6035, 1.6065 and 1.6100, while on the downside supports could be found at 1.6000, 1.5980 and 1.5955.
GBP/USD climbed over 50 pips throughout the day and having surpassed Friday's peak (1.6032), it reached its highest since mid-May at 1.6035 before losing momentum. At time of writing, the cross is quoting at the 1.6020 zone, 0.2% above its opening price.
As for technical levels, on the upside next resistances are seen at 1.6035, 1.6065 and 1.6100, while on the downside supports could be found at 1.6000, 1.5980 and 1.5955.
