8 Dec 2014
GBP/USD stuck below 20-day SMA
FXStreet (Mumbai) - The cable trades lower against the greenback as the US dollar bulls are back on the bid - despite a modest one, in absence of any US data lined up for release later today.
The GBP/USD pair trades at 1.5545 levels, down -0.27% from the previous session’s close of 1.5566. Broad based US dollar strength across all currencies continues to halt gains in the Sterling.
The greenback received a boost on Friday after US non-farm payrolls jumped to 321,000, up from the upwardly revised 243,000 new jobs added to the US economy in October, raising hopes for sooner than expected US interest rate hike.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5583 (20-day SMA) levels, above which gains could be extended to 1.5636 (50-day SMA) levels. On the flip side, support is seen at 1.5514 (Sept 2013 Low), below which it could extend losses to 1.5483 (Nov 2011 Low) levels.
The GBP/USD pair trades at 1.5545 levels, down -0.27% from the previous session’s close of 1.5566. Broad based US dollar strength across all currencies continues to halt gains in the Sterling.
The greenback received a boost on Friday after US non-farm payrolls jumped to 321,000, up from the upwardly revised 243,000 new jobs added to the US economy in October, raising hopes for sooner than expected US interest rate hike.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5583 (20-day SMA) levels, above which gains could be extended to 1.5636 (50-day SMA) levels. On the flip side, support is seen at 1.5514 (Sept 2013 Low), below which it could extend losses to 1.5483 (Nov 2011 Low) levels.