GBP/USD gravitates around 1.5200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD continues to gravitate around the 1.5200 level after being rejected twice throughout the day from the 1.5240/45 resistance area.

    GBP/USD scored its highest levels since BoE Super Thursday at 1.5245 but found sellers and pulled back. However, with the downside limited by 1.5170, the pair was confined to a sideways phase in a slim range. At time of writing, Cable is trading at 1.5208, virtually unchanged on the day.

    Fed Chair Janet Yellen was speaking in Washington but refrained from making comments on monetary policy, which weighed on the greenback.

    GBP/USD levels to watch

    In terms of technical levels, next next resistances could be found at 1.5245 (Nov 12 high), 1.5255 (10-day SMA) and 1.5300 (psychological level). On the flip side, supports might be faced at 1.5173 (Nov 12 low), 1.5114 (Nov 11 low) ahead of 1.5090 (Nov 10 low) and 1.5040 (Nov 9 low).
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