25 May 2015
GBP/USD back to square one
FXStreet (Córdoba) - As most crosses in the FX market, GBP/USD is going through a consolidation phase on Monday amid quiet, thinned-holiday trading in observance of the Memorial Day in US.
GBP/USD made a marginal new low of 1.5455 at the beginning of the American session, after being rejected from above 1.5500, but found support and settled in a narrow range. At time of writing, the pair is trading at 1.5465, flat on the day.
GBP/USD levels to watch
In terms of technical levels, immediate supports could be found at 1.5455 (21-day SMA/daily low), 1.5445 (May 19 low) and 1.5392 (May 11 low). On the upside, resistances are seen at 1.5506 (daily high), 1.5556 (100-hour SMA) and 1.5581 (200-day SMA).
GBP/USD made a marginal new low of 1.5455 at the beginning of the American session, after being rejected from above 1.5500, but found support and settled in a narrow range. At time of writing, the pair is trading at 1.5465, flat on the day.
GBP/USD levels to watch
In terms of technical levels, immediate supports could be found at 1.5455 (21-day SMA/daily low), 1.5445 (May 19 low) and 1.5392 (May 11 low). On the upside, resistances are seen at 1.5506 (daily high), 1.5556 (100-hour SMA) and 1.5581 (200-day SMA).