GBP/USD breaks above 1.5100, turns positive for the week

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The US dollar faced another wave of selling at the beginning of the New York session sending GBP/USD to fresh weekly highs above 1.5100.

    GBP/USD has already taken back Monday and Tuesday losses and is trading in positive ground for the week, with a high posted at 1.5141 in recent dealings. At time of writing, the pair was at 1.5128, up 0.81% on the day, eyeing post-ECB highs around 1.5160.

    Meanwhile, main focus remains on Bank of England Super Thursday ahead of the more decisive Federal Reserve meeting next week.

    GBP/USD technical levels

    In terms of technical levels, immediate resistances line up at 1.5141 (Dec 9 high), 1.5158 (Dec 3 high) and then 1.5234 (50-day SMA). On the other hand, supports could be found at 1.5000 (psychological level/intraday low), 1.4955 (Dec 8 low) and 1.4894 (Dec 2 low).

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