20 Jan 2015
GBP/USD eases from daily highs
FXStreet (Córdoba) - GBP/USD staged a decent comeback from daily lows and recovered more than 100 pips, although it faced resistance at the 100-hour SMA and retreated somewhat.
GBP/USD managed to climb to the 1.5165 zone, posting a daily high during the European session, but lost momentum and pulled back a few pips. At time of writing, the pair is trading around 1.5150, up 0.28% on the day, having bounced from a low of 1.5056.
Cable has had a volatile day despite the absence of economic data, as investors gear up for tomorrow's UK jobs and earnings data and the latest BoE’s meeting minutes.
GBP/USD technical perspective
“Some follow through above 1.5180 should favor more intraday gains towards 1.5220/30 area, whilst if this last gives up, 1.5270 area comes next”, said Valeria Bednarik, chief analyst at FXStreet. “To the downside, 1.5110 is the immediate support and a break below it once again will likely lead to a retest of 1.5030/50 price zone”.
GBP/USD managed to climb to the 1.5165 zone, posting a daily high during the European session, but lost momentum and pulled back a few pips. At time of writing, the pair is trading around 1.5150, up 0.28% on the day, having bounced from a low of 1.5056.
Cable has had a volatile day despite the absence of economic data, as investors gear up for tomorrow's UK jobs and earnings data and the latest BoE’s meeting minutes.
GBP/USD technical perspective
“Some follow through above 1.5180 should favor more intraday gains towards 1.5220/30 area, whilst if this last gives up, 1.5270 area comes next”, said Valeria Bednarik, chief analyst at FXStreet. “To the downside, 1.5110 is the immediate support and a break below it once again will likely lead to a retest of 1.5030/50 price zone”.