GBP/USD fails to sustain intraday gains

GBP/USD made an early attempt to recover the 1.46 mark but failed, and pulled back, erasing completely intraday gains.

GBP/USD staged an impressive rally on Tuesday, without a clear trigger, as jitters grow ahead of two key events for the pair, the Fed meeting on June 15, and the referendum on EU membership June 23.

Having retreated from the 1.4600 zone and in the absence of economic developments, the pair is currently trading at the 1.4530 area, virtually unchanged on the day.

GBP/USD levels to watch

In terms of technical levels, resistances are seen at 1.4600 (psychological level/Jun 8 high), 1.4658 (Jun 7 high) and 1.4687 (May 27 high). On the flip side, next supports could be found at 1.4500 (Jun 8 low/psychological level), 1.4425 (50-day SMA) and 1.4350 (100-day SMA).