GBP/USD hits fresh highs above 1.5050

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD moved away from multi-month lows and is now up for the day. The pair printed a fresh daily high at 1.5065 and it was trading at 1.5050, 0.10% up for the day.

    Earlier it bottomed at 1.4992, the lowest level since April. From there it has been able to rise 60 pips and is scoring so far the second daily gains out of the last seven trading days.

    The decline of EUR/GBP that dropped toward 0.7000 also gave momentum to the pound, but the Swiss franc is the best performer so far among European currencies.

    GBP/USD levels to watch

    The pair rebounded but the upside was capped by the 55-hour MA that stands at 1.5060 above resistance might be seen at 1.5065/70 (daily high / Nov 26 low) and 1.5110 (Nov 27 high). On the opposite direction, immediate support now lies at 1.5025 (20-hour MA) 1.5010 and 1.4992 (daily low).
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