GBP/USD extends recovery, approaches 1.5100

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) - GBP/USD found renewed buying interest ahead of the New York opening and rose to fresh daily highs, although it stalled just shy of the 1.5100 level.

    Cable has managed to trim early weekly losses, having risen more than 90 pips throughout the day to reach a peak of 1.5092 in recent dealings. At time of writing, the pair is trading at 1.5088, up 0.55% on the day, with the dollar trading broadly softer.

    Tomorrow, the Bank of England will offer another “Super Thursday”, although no news are expected in terms of monetary policy.

    GBP/USD levels to watch

    As for technical levels, next resistances could be found at 1.5114 (Dec 7 high), 1.5158 (Dec 3 high) and then 1.5234 (50-day SMA). On the other hand, supports are seen at 1.5000 (psychological level/intraday low), 1.4955 (Dec 8 low) and 1.4894 (Dec 2 low).

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