GBP/USD reverses losses, back to square one

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The pound completed a round trip and is back at square one versus the US dollar after briefly falling to the 1.5100 area on the back of the BoE ‘Super Thursday’.

    GBP/USD came under pressure and fell to a low of 1.5109 following BoE decision to leave monetary policy unchanged at today’s meeting as investors were probably expecting a hawkish hint. However, the Sterling managed to erase intraday losses and climbed back to the 1.5180 zone, where it trades at time of writing, virtually unchanged on the day.

    GBP/USD levels to watch

    On the upside, immediate resistances could be found at 1.5200 (Dec 10 high/psychological level), 1.5237 (50-day SMA) and then 1.5318 (200-day SMA). On the downside, near-term supports are seen at 1.5109 (Dec 10 low), 1.5078 (10-day SMA) and then 1.5003/00 (Dec 9 low/psychological level).
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