4 Nov 2013
GBP/USD at daily highs ahead of the NY open
FXstreet.com (Córdoba) - The GBP/USD is taking a breather Monday, recovering some ground after recent drop found support ahead of 1.5900.
GBP/USD bottomed out at 1.5902 during the Asian session but managed hold above mid-October lows and bounced, supported by upbeat UK construction PMI. GBP/USD climbed nearly 70 pips from lows and reached a high of 1.5971 before losing momentum and settling in a slim range.
GBP/USD technical levels
At time of writing, the GBP/USD is trading at the 1.5965 area, recording a 0.3% gain on the day with immediate resistances lining up at 1.5971 (daily high), 1.6000 (psychological level) and 1.6017 (100-hour SMA). On the flip side, supports are seen at 1.5902/00 (daily low/psychological level) and 1.5893 (Oct 16 low).
GBP/USD bottomed out at 1.5902 during the Asian session but managed hold above mid-October lows and bounced, supported by upbeat UK construction PMI. GBP/USD climbed nearly 70 pips from lows and reached a high of 1.5971 before losing momentum and settling in a slim range.
GBP/USD technical levels
At time of writing, the GBP/USD is trading at the 1.5965 area, recording a 0.3% gain on the day with immediate resistances lining up at 1.5971 (daily high), 1.6000 (psychological level) and 1.6017 (100-hour SMA). On the flip side, supports are seen at 1.5902/00 (daily low/psychological level) and 1.5893 (Oct 16 low).