GBP/USD more to go?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - GBP/USD is currently consolidating the bid at 1.5172 with a high of 1.5180 and a low of 1.5003.

    GBP/USD is running into offers after a good bid from below the 200 SMA on the hourly and starting out from the 20 SMA on the same time frame down at 1.5041 to where the MA now crosses through the 200 SMA and embarking on the 100 SMA at 1.5072 offering strong stability signals at the highest levels since mid november's business.

    GBP/USD levels

    Whether this be positioning for Boe surprises in the minutes perhaps or the FOMC next (a little early), no one knows and cable doesn't often give out any clues and when it goes, it runs. 1.5200 could be a touch resistance ahead of 1.5250 and descending channel resistance from August top.
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