GBP/USD rejected by 1.4600, trims daily gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The US dollar gathered pace and trimmed intraday losses versus the pound at the beginning of the American session, dragging GBP/USD to fresh session lows.

    GBP/USD was rejected by the 1.4600 level and dropped more than half-a-cent over the last hours, sliding to session lows around 1.4530. At time of writing, the pair is trading at 1.4535, still a few pips above its opening price. However, GBP/USD remains near a 5 ½-year low of 1.4493 scored at a volatile weekly opening.

    GBP/USD technical levels

    As for technical levels, if GBP/USD falls below 1.4493 (5 ½-year low, Jan 11), next supports are seen at 1.4345 (Jun 2010 monthly low) and 1.4300 (psychological level). On the flip side, short-term resistances could be found at 1.4603 (Jan 11 high), 1.4639 (Jan 7 high), 1.4680 (Jan 6 high) and 1.4724 (Jan 5 high).
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