16 Jun 2015
GBP/USD holds above 1.5600
FXStreet (Córdoba) - GBP/USD is consolidating gains above the 1.5600 level after taking a roundtrip to the 1.5540 area during the European session.
The pound managed to recover ground as the dollar weakened at the beginning of the American session, and climbed to its highest level in over 3 weeks at 1.5646. However, the pair lacked momentum to extend gains and settled in a range near highs. At time of writing, GBP/USD is trading at 1.5623, recording a 0.15% gain on the day.
FOMC rate decision tomorrow
Investors attention turns to FOMC rate decision on Wednesday as even though most analysts have ruled out a hike in June meeting, Fed language will be closely scrutinized.
GBP/USD technical levels
In terms of technical levels, immediate resistances line up at 1.5646 (Jun 16 high), 1.5689 (May 22 high) and 1.5700 (psychological level). On the flip side, supports are seen at 1.5541 (Jun 16 low), 1.5500 (psychological level) and 1.5489 (200-day SMA).
The pound managed to recover ground as the dollar weakened at the beginning of the American session, and climbed to its highest level in over 3 weeks at 1.5646. However, the pair lacked momentum to extend gains and settled in a range near highs. At time of writing, GBP/USD is trading at 1.5623, recording a 0.15% gain on the day.
FOMC rate decision tomorrow
Investors attention turns to FOMC rate decision on Wednesday as even though most analysts have ruled out a hike in June meeting, Fed language will be closely scrutinized.
GBP/USD technical levels
In terms of technical levels, immediate resistances line up at 1.5646 (Jun 16 high), 1.5689 (May 22 high) and 1.5700 (psychological level). On the flip side, supports are seen at 1.5541 (Jun 16 low), 1.5500 (psychological level) and 1.5489 (200-day SMA).