Forex: GBP/USD capped by 100-hour SMA
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - The pound has been in steady recovery ever since it bottomed out at 1.5673 on Monday but the GBPUSD found resistance once again at the 100-hour SMA, that today acted as dynamic resistance around 1.5770.
As the Cable lacked momentum to break above that level, it was confined to a consolidation phase during the last hours, with the 1.5730 area holding the downside. At time of writing, GBPUSD is trading at the 1.5755 area, still up 0.4% on the day.
In terms of technical levels, The Talking-Forex team sees supports at 1.5674/57 and then at 1.5636. On the other hand, resistance levels are seen at the 10DMA line at 1.5838, 1.5892 and then at 1.5900.
As the Cable lacked momentum to break above that level, it was confined to a consolidation phase during the last hours, with the 1.5730 area holding the downside. At time of writing, GBPUSD is trading at the 1.5755 area, still up 0.4% on the day.
In terms of technical levels, The Talking-Forex team sees supports at 1.5674/57 and then at 1.5636. On the other hand, resistance levels are seen at the 10DMA line at 1.5838, 1.5892 and then at 1.5900.
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