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GBP/USD remains capped by 1.5150 despite weaker dollar

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - GBP/USD found an interim support and cut some of its intraday losses, helped by a weaker dollar across the board.

    The pound was among the worst performers, down by more than 120 pips at one stage at a low of 1.5107 versus the dollar. GBP/USD managed to recover a few pips at the beginning of the New York session, but the bounce has remained capped by the 1.5150 area so far.

    GBP/USD levels to watch

    At time of writing, GBP/USD is trading at 1.5140, still down 0.56% on the day with immediate supports seen at 1.5104/00 (10-day SMA/psychological level) and not much until 1.5003/00 (Dec 9 low/psychological level). On the flip side, if the pound manages to recover further, resistances could be faced at 1.5238 (50-day SMA/Dec 11 high) and 1.5300 (psychological level) ahead of 1.5319 (200-day SMA).
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