GBP/USD remains capped by 1.5350

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD managed to recover some ground and bounced off from the 1.5300 area during the European session, climbing to fresh daily highs before losing momentum.

    The dollar has given up gains versus the pound amid better risk sentiment as investors’ attention turns to Fed decision on Wednesday. However, GBP/USD found resistance at the 1.5350 region and settled in a slim range just below. At time of writing, the pair is trading at 1.5333, still 0.13% above its opening price.

    GBP/USD levels to watch

    In terms of technical levels, GBP/USD could find immediate resistances at 1.5350 (Oct 26 high), 1.5380 (50-day SMA) ahead of 1.5448 (61.8% Fibo of 1.5658-1.5106). On the downside, supports are seen at 1.5236 (23.6% Fibo of 1.5658-1.5106), 1.5200 (Oct 13 low) and then 1.5185 (6-month uptrend).
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