GBP/USD extends rally to 2-week highs

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) - Pound continues to push higher versus a weaker US dollar, with GBP/USD climbing to fresh 2-week highs during the New York session.

    GBP/USD broke above post-ECB highs and stretched to a peak of 1.5178 so far, with the pair holding at highs and aiming to retest the 1.52 area. At time of writing, the pair is trading at 1.5173, recording a 1.11% daily gain following three consecutive losses.

    GBP/USD technical levels

    In terms of technical levels, next resistances are seen at 1.5195/1.5200 (Nov 23 high/psychological level) and 1.5235 (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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