8 Dec 2014
GBP/USD recovers 100 pips from lows
FXStreet (Córdoba) - GBP/USD staged a nice comeback and returned to its pre-nonfarm payrolls range after hitting a fresh cycle low of 1.5540 earlier on the day.
GBP/USD climbed to a daily high of 1.5640, 100 pips above its 15-month low hit during the European session, turning from the worst to one of the best performers against the dollar. However, Cable found resistance at the 100-hour SMA and it is currently trading at 1.5625, 0.35% above its opening price.
GBP/USD technical levels
In terms of technical levels, 1.5679 (10-day SMA) and 15698/1.5700 (21-day SMA/psychological level) stand as immediate resistances, while supports are seen at 1.5540 (2014 low Dec 8), 1.5521 (Sep 3 2013 low) and 1.5505/00 (Sep 2 2013 low/psychological level).
GBP/USD climbed to a daily high of 1.5640, 100 pips above its 15-month low hit during the European session, turning from the worst to one of the best performers against the dollar. However, Cable found resistance at the 100-hour SMA and it is currently trading at 1.5625, 0.35% above its opening price.
GBP/USD technical levels
In terms of technical levels, 1.5679 (10-day SMA) and 15698/1.5700 (21-day SMA/psychological level) stand as immediate resistances, while supports are seen at 1.5540 (2014 low Dec 8), 1.5521 (Sep 3 2013 low) and 1.5505/00 (Sep 2 2013 low/psychological level).