29 Aug 2013
GBP/USD holds above 1.5500 ahead of US data
FXstreet.com (Córdoba) - Even though GBP/USD briefly fell below the 1.5500 mark during the European session, the pair managed to bounce and back above the psychological level ahead of the US GDP release.
GBP/USD climbed toward the 1.5525 zone, but the 20-hour SMA capped the recovery roughly at the daily opening level. At time of writing, GBP/USD is trading at the 1.5505 zone, where it is 0.1% below its opening price. Despite broad USD strength, the Cable is taking a breather after the sharp drop seen yesterday as tensions in Syria eased a tad.
GBP/USD technical levels
In terms of technical levels GBP/USD could find immediate supports at 1.5496 (daily low) and 1.5426 (Aug 29 low). On the other hand, resistances are seen at 1.5522 (20-hour SMA) and 1.5548 (daily high/100-hour SMA).
GBP/USD climbed toward the 1.5525 zone, but the 20-hour SMA capped the recovery roughly at the daily opening level. At time of writing, GBP/USD is trading at the 1.5505 zone, where it is 0.1% below its opening price. Despite broad USD strength, the Cable is taking a breather after the sharp drop seen yesterday as tensions in Syria eased a tad.
GBP/USD technical levels
In terms of technical levels GBP/USD could find immediate supports at 1.5496 (daily low) and 1.5426 (Aug 29 low). On the other hand, resistances are seen at 1.5522 (20-hour SMA) and 1.5548 (daily high/100-hour SMA).