15 Jan 2014
GBP/USD holds support at 1.6320
FXstreet.com (Córdoba) - The GBP/USD managed to find buyers and bounced from a 3-week low after the steep drop seen in the wake of stronger-than-expected US data.
The GBP/USD bottomed out at 1.6321 but found support roughly at the same level that on Dec 24 and trimmed losses. At time of writing, the Cable is trading at the 1.6350 zone, still 0.6% below its opening price.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.6321 (Jan 15 & Dec 24 lows) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6407 (20-day SMA), 1.6442 (Jan 15 high) and 1.6464 (Jan 14 high).
The GBP/USD bottomed out at 1.6321 but found support roughly at the same level that on Dec 24 and trimmed losses. At time of writing, the Cable is trading at the 1.6350 zone, still 0.6% below its opening price.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.6321 (Jan 15 & Dec 24 lows) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6407 (20-day SMA), 1.6442 (Jan 15 high) and 1.6464 (Jan 14 high).