GBP/USD bounces off lows, fails to regain 1.5000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The pound managed to take back part of its intraday losses against the dollar, recovering toward 1.500 after UK NIESR GDP Estimate for November came in at 0.60%, as expected.

    GBP/USD bottomed out at 1.4955 at the beginning of the New York session but found support and managed to climb back to 1.5004 before losing some steam and pulling back. Unable to regain the 1.50 mark, the pair keeps heavy losses for the day, trading down 0.49% at 1.4980.

    GBP/USD levels to watch

    As for technical levels, next supports are seen at 1.4894 (Dec 2 low), 1.4855 (Apr 21 low) and 1.4810 (Apr 16 low). On the flip side, resistances could be faced at 1.5060 (Dec 8 high), 1.5114 (Dec 7 high), 1.5158 (Dec 3 high) and then 1.5234 (50-day SMA).
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