GBP/USD holds up above 1.5100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD entered a consolidation phase on Tuesday, with the pound holding up pretty well considering USD broad strength.

    Following sharp losses last week on the back of dovish hints after Bank of England Super Thursday and strong US nonfarm payrolls, GBP/USD has managed to recover some ground over the last sessions, although the upside remains capped by 1.5145.

    Having spent the last hours in a 30-pip range unable to set short-term direction, GBP/USD is currently trading at 1.5110, virtually unchanged on the day and not far from its 6-month low scored at 1.5025 last Friday.

    GBP/USD levels to watch

    In terms of technical levels, GBP/USD could find immediate supports at 1.5040 (Nov 9 low), 1.5025 (Nov 6 low) and then 1.5000 (psychological level). On the other hand, resistances line up at 1.5144 (Nov 10 high) and 1.5200 (Oct 13 low/psychological level) ahead of 1.5218 (Nov 6 high).
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