23 Dec 2015
GBP/USD recovery falters at 1.4900
FXStreet (Córdoba) - The pound is staging a decent comeback on Wednesday shrugging off disappointing UK GDP revisions and having reversed the previous day’s losses versus the dollar.
GBP/USD has climbed nearly a hundred pips from yesterday’s lows and reached a peak of 1.4899, but lacked momentum to break above the psychological level and pulled back slightly. At time of writing, the pair is trading at 1.4883, up 0.39% on the day.
The pound is making up for yesterday’s underperformance, being one of the strongest currencies across the board on Wednesday, with GBP/USD recovering from an 8-month low of 1.4804.
Next on tap, US data to be released includes November durable goods orders and personal spending/income.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD breaks decisively above the 1.4900/06 area (psychological level/Dec 22 high), next resistances are seen at 1.4949 (Dec 18 high) and 1.4995 (10-day SMA). On the flip side, supports could be found at 1.4804/00 (Dec 22 low/psychological level) and not much until 1.4700 (Apr 15 low/psychological level).
GBP/USD has climbed nearly a hundred pips from yesterday’s lows and reached a peak of 1.4899, but lacked momentum to break above the psychological level and pulled back slightly. At time of writing, the pair is trading at 1.4883, up 0.39% on the day.
The pound is making up for yesterday’s underperformance, being one of the strongest currencies across the board on Wednesday, with GBP/USD recovering from an 8-month low of 1.4804.
Next on tap, US data to be released includes November durable goods orders and personal spending/income.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD breaks decisively above the 1.4900/06 area (psychological level/Dec 22 high), next resistances are seen at 1.4949 (Dec 18 high) and 1.4995 (10-day SMA). On the flip side, supports could be found at 1.4804/00 (Dec 22 low/psychological level) and not much until 1.4700 (Apr 15 low/psychological level).