4 Aug 2015
GBP/USD bounces sharply from lows to highs
FXStreet (Córdoba) - GBP/USD make a U-turn after hitting fresh lows sub-1.5600 and bounced sharply in a matter of minutes and rose to retest daily highs.
GBP/USD bottomed out at 1.5559 but found buyers and run to a high of 1.5625, stalling just a few pips ahead of European session peaks. At time of writing, GBP/USD is trading at 1.5615, still up 0.19% on the day. Despite intraday volatility, GBP/USD remains broadly steady within familiar ranges.
GBP/USD levels to watch
In terms of technical, GBP/USD could find next resistances at 1.5627 (Aug 4 high), 1.5644 (Aug 3 high) and 1.5677 (Jul 31 high). On the flip side, supports are seen at 1.5559/56 (Aug 4 low/50-day SMA), 1.5525 (Jul 28 low) and 1.5500 (psychological level).
GBP/USD bottomed out at 1.5559 but found buyers and run to a high of 1.5625, stalling just a few pips ahead of European session peaks. At time of writing, GBP/USD is trading at 1.5615, still up 0.19% on the day. Despite intraday volatility, GBP/USD remains broadly steady within familiar ranges.
GBP/USD levels to watch
In terms of technical, GBP/USD could find next resistances at 1.5627 (Aug 4 high), 1.5644 (Aug 3 high) and 1.5677 (Jul 31 high). On the flip side, supports are seen at 1.5559/56 (Aug 4 low/50-day SMA), 1.5525 (Jul 28 low) and 1.5500 (psychological level).