GBP/USD trims daily gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - GBP/USD failed to hold above the 1.51 mark and retraced most of its intraday gains as pound strength faded during the American session.

    GBP/USD reached a daily high of 1.5123 earlier on the day supported by an upward revision to 2016 UK GDP growth, but surrendered gains afterwards. At time of writing, the pair is trading at 1.5089, still a few pips above its opening price.

    GBP/USD levels to watch

    In terms of technical levels, immediate support lies at 1.5055/50, which has contained the downside over the last sessions, followed by 1.5026 (Nov 6 low) and 1.5000 (psychological level). On the other hand, resistances are seen at 1.5123 (Nov 25 high), 1.5155 (Nov 24 high) and 1.5187 (10-day SMA).
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