Forex Signals

Tuesday 8 April 2014

Pound hits 3-week highs vs. dollar after U.K. data

The pound rose to more than three-week highs against the dollar on Tuesday after data showed that U.K. industrial output increased at the fastest pace since June 2013.
GBP/USD hit session highs of 1.6713, the strongest level since March 13 and was last up 0.55% to 1.6699.

Cable was likely to find support at 1.6601, the session low and resistance at 1.6750.
Manufacturing output jumped by 1.0% month-on-month in February, the biggest rise since September 2013, and the third successive monthly increase, and was 3.8% higher on a year-over-year basis.


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