20 Jan 2015
GBP/USD falters ahead of 1.5200
FXStreet (Córdoba) - Following a brief dip, GBP/USD resumed the advance and reached fresh daily highs at the beginning of the American session, but it lacked momentum to break above the 1.5200 psychological level and pulled back instead.
GBP/USD gathered renewed buying interest and climbed to a 4-day high of 1.5198 before finding resistance and easing to current levels. At time of writing, the pair is trading at 1.5183, up 0.49% on the day, having recovered from a low of 1.5056 scored during the Asian session.
In the absence of first-tier data, Cable investors attention now turns to UK jobs data and BoE's meeting minutes to be published tomorrow.
GBP/USD technical perspective
From a technical perspective, Valeria Bednarik notes Cable holds a short-term positive tone, supporting further upside, especially on a break above 1.5220/30 immediate resistance area. Bednarik locates immediate resistance levels 1.5225, 1.5250 and 1.5290, while supports are seen at 1.5160, 1.5110 and 1.5070.
GBP/USD gathered renewed buying interest and climbed to a 4-day high of 1.5198 before finding resistance and easing to current levels. At time of writing, the pair is trading at 1.5183, up 0.49% on the day, having recovered from a low of 1.5056 scored during the Asian session.
In the absence of first-tier data, Cable investors attention now turns to UK jobs data and BoE's meeting minutes to be published tomorrow.
GBP/USD technical perspective
From a technical perspective, Valeria Bednarik notes Cable holds a short-term positive tone, supporting further upside, especially on a break above 1.5220/30 immediate resistance area. Bednarik locates immediate resistance levels 1.5225, 1.5250 and 1.5290, while supports are seen at 1.5160, 1.5110 and 1.5070.