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GBP/USD regains 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
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    FXStreet (Córdoba) - GBP/USD managed to trim intraday losses and regained the 1.5200 mark during the American session, although the recovery lacked momentum.

    Cable bounced off a low of 1.5180 and went through a sideways below 1.5200 before picking up some pace and climbing to a New York session high of 1.5218. At time of writing, the pair is trading at 1.5215, still 0.11% below its opening price.

    The main event of the week will be the release of FOMC minutes, where investors will be looking for clear signs of a December lift-off. While expectations of a rate hike continue to grow in the US, the Bank of England shows no hurry in raising rates.

    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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