7 Sep 2015
GBP/USD consolidates near daily highs
FXStreet (Córdoba) - GBP/USD steadied near daily highs and entered a consolidation phase, following a rally that lead the pair to near 1.5300 during the European session.
GBP/USD found buyers and climbed to a daily peak of 1.5277, without a clear catalyst, in quiet trading conditions. Cable pulled back slightly from highs and it was last trading at 1.5250, recording a 0.53% gain on the day, and having recovered from a post-NFP low of 1.5164.
Trading will likely remain subdued during the American session, give the US Labour Day holiday.
GBP/USD levels to watch
In terms of technical levels, a break above 1.5277 would pave the way towards 1.5300 (psychological level) and 1.5355 (200-day SMA). On the other hand, supports are seen at 1.5164 (Sep 4 low) and 1.5088 (May 5 low).
GBP/USD found buyers and climbed to a daily peak of 1.5277, without a clear catalyst, in quiet trading conditions. Cable pulled back slightly from highs and it was last trading at 1.5250, recording a 0.53% gain on the day, and having recovered from a post-NFP low of 1.5164.
Trading will likely remain subdued during the American session, give the US Labour Day holiday.
GBP/USD levels to watch
In terms of technical levels, a break above 1.5277 would pave the way towards 1.5300 (psychological level) and 1.5355 (200-day SMA). On the other hand, supports are seen at 1.5164 (Sep 4 low) and 1.5088 (May 5 low).