11 Feb 2015
GBP/USD erases daily gains and consolidates near lows
FXStreet (Córdoba) - GBP/USD entered a consolidation phase at the lower side of today’s range, after retreating from a high of 1.5300 amid broad dollar strength.
What can’t go up…
After failing to break above 1.5300, Cable faced selling pressure and slid to a low of 1.5217 during the New York session. GBP/USD found support and it has spent the last hours in a tight range just above daily lows.
GBP/USD technical levels
At time of writing, the pair is trading at 1.5230, recording a 0.15% loss on Wednesday, with immediate supports at 1.5217 (daily low) and 1.5200 (psychological level). On the other hand, resistances are seen at 1.5300 (psychological level) and 1.5351/53 (Feb 6 high/50-day SMA).
What can’t go up…
After failing to break above 1.5300, Cable faced selling pressure and slid to a low of 1.5217 during the New York session. GBP/USD found support and it has spent the last hours in a tight range just above daily lows.
GBP/USD technical levels
At time of writing, the pair is trading at 1.5230, recording a 0.15% loss on Wednesday, with immediate supports at 1.5217 (daily low) and 1.5200 (psychological level). On the other hand, resistances are seen at 1.5300 (psychological level) and 1.5351/53 (Feb 6 high/50-day SMA).