StockMarketWire.com - The British pound was mildly firmer against the US dollar in morning trade, and may test the $1.6300 level in coming sessions and form what chartists refer to as a 'triple top' pattern.
At 0922 GMT, sterling was up 0.07% at $1.6121, continuing a mini run-up that dates back to mid-November. It last tested the $1.6300 mark in mid-September, and before that in mid-April.
Michael Hewson, of CMC Markets, said the before tiptoeing up to $1.6300, the pound had to break through resistance around $1.6180.
"Trend line support from the $1.5830 lows comes in at $1.6060, while the key support remains at $1.5980," Hewson said.
Story provided by StockMarketWire.com
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