10 Mar 2015
GBP/USD unable to rise back above 1.5100
FXStreet (Córdoba) - Cable is falling modestly on Tuesday, after trimming losses but so far it is unable to rise back above 1.5100.
GBP/USD recovery from 1-month lows
During the European session GBP/USD dropped to 1.5027, reaching the lowest price since February 3. The area around 1.5030 gave support to the pair that rebounded and rose toward 1.5100. During the last few hours it has been testing the mentioned level but it failed to break higher.
Currently trades at 1.5085, down 40 pips from yesterday’s closing price. The pound erased part of Monday’s gains and is back near multi-year lows.
To the upside, above 1.5100 the next resistance could be located at 1.5135/40 (March 9 high) while to the downside, immediate support lies at 1.5025/30 (March 9, 10 lows) and 1.5000.
GBP/USD recovery from 1-month lows
During the European session GBP/USD dropped to 1.5027, reaching the lowest price since February 3. The area around 1.5030 gave support to the pair that rebounded and rose toward 1.5100. During the last few hours it has been testing the mentioned level but it failed to break higher.
Currently trades at 1.5085, down 40 pips from yesterday’s closing price. The pound erased part of Monday’s gains and is back near multi-year lows.
To the upside, above 1.5100 the next resistance could be located at 1.5135/40 (March 9 high) while to the downside, immediate support lies at 1.5025/30 (March 9, 10 lows) and 1.5000.