GBP/USD makes new lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD revisited the bottom side of its daily range as the dollar strengthened broadly into the European close.

    After failing to regain the 1.5190zone, GBP/USD came under renewed pressure and dropped to a marginal new low of 1.5122 despite the latest string of US data turned out lower than expected.

    US manufacturing PMI dropped to its lowest level in two years of 52.6 in November while existing home sales fell 3.4% in October.

    GBP/USD technical levels

    At time of writing, GBP/USD is trading at 1.5130, down 0.39% on the day. In terms of technical levels, next supports could be found at 1.5090 (Nov 10 low), 1.5040 (Nov 9 low) and 1.5025 (Nov 6 low). On the other hand, resistances are seen at 1.5204 (10-day SMA), 1.5297 (50-day SMA), 1.5335/38 (Nov 19 high/200-day SMA).
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