GBP/USD off highs, back to 1.5060

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 (Edinburgh) - The upside in GBP/USD seems to have found strong resistance around 1.5080, easing to 1.5060 at the time of writing.

    GBP/USD bounces off 1.4950

    Spot keeps recovering ground after bottoming out in the mid-1.4900s during yesterday’s session. The selling pressure around the sterling has been growing bigger following the ECB-induced tops near 1.5160, although buyers seem to have turned up around 1.4950, Tuesday’s troughs.

    Ahead in the week, the BoE’s ‘Super Thursday’ is next on tap along with October’s trade balance figures in the UK economy.

    GBP/USD important levels

    The pair is now advancing 0.34% at 1.5060 and a surpass of 1.5160 (post-ECB high Dec.3) would target 1.5230 (55-day sma) en route to 1.5336 (high Nov.9). On the other hand, the next support lines up at 1.4954 (low Dec.8) ahead of 1.4893 (low Dec.2) and then 1.4853 (low Apr.21).

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