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GBP/USD recovers from below 1.5000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - GBP/USD gathered pace and recovered from below the 1.5000 level, erasing intraday losses at the beginning of the New York session.

    GBP/USD scored its lowest level since April at 1.4993 during the European session amid dollar strength and with UK data failing to provide support to the pound. However, GBP/USD managed to move off lows afterward, with the pair climbing to the 1.5030 zone in recent dealings. At time of writing, Cable is trading at 1.5022, still a few pips below its opening price.

    GBP/USD technical levels

    In terms of technical levels, GBP/USD could find immediate resistances at 1.5078 (100-hour SMA), 1.5109 (Nov 27 high) and 1.5142 (10-day SMA). On the other hand, supports could be faced at 1.4993 (7-month low Nov 30), 1.4959 (Apr 23 low) and 1.4913 (Apr 22 low).
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