GBP/USD hovers below 1.5200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD has moved a tad lower on Monday, correcting following five consecutive daily gains, with the greenback supported by a cautious mood in markets and growing expectations the Fed will raise rates next month.

    GBP/USD retreated from a peak of 1.5263 and slid back below the 1.52 mark during the European session. GBP/USD bottomed out at 1.5180, but found support and it was last trading at 1.5193, recording a 0.24% loss on the day.

    GBP/USD levels to watch

    In terms of technical levels, GBP/USD could find next resistances at 1.5263 (Nov 13 high), 1.5317 (50-day SMA) and 1.5341 (200-day SMA). 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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