GBP/USD breaks above 1.4400 and posts fresh 2-week highs

By FXStreet FXStreet (Córdoba) – GBP/USD rallied on Monday with the pound among the best performers, having broken above 1.4400 level and reached fresh 2-week highs during the American afternoon.

GBP/USD has climbed nearly 200 pips throughout the day and reached a peak of 1.4440, last seen Jan 13. At time of writing, the pair is trading at 1.4438, recording a 1.32% gain on the day.

Cable seems to have found an interim bottom at 1.4078, where it hit a 7-year low on Jan 21 before starting correcting higher.

GBP/USD levels to watch

In terms of technical levels, next resistances could be faced at 1.4440 (Feb 1 high) and 1.4475 (Jan 13 high) and 1.4559 (Jan 12 high). On the flip side, supports are seen at 1.4170 (Jan 29 low) 1.4124 (Jan 20 low) and then 1.4078 (7-year low, Jan 21).
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Source:: FX Street