FXstreet.com (Córdoba) – Boosted by a solid UK GDP reading, the GBP/USD extended gains Wednesday and reached its highest level in 11 months during the European session.
GBP/USD breaks above 1.6300
The GBP/USD broke decisively above October highs (at the 1.6260 zone), triggering stops orders, and climbed to its highest level since Jan 2 at 1.6327. However, the Cable lost momentum and retreated somewhat, although it keeps its 2013 high in sight. At time of writing, GBP/USD is trading at the 1.6305 zone, recording a 0.6% gain on the day ahead of a bunch of US indicators.
GBP/USD technical levels
In terms …read more