Forex: GBP/USD consolidates gains, resistance at 1.5950
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - After hitting a 2-week high of 1.5947, the pound lost momentum and entered in a consolidation phase versus the dollar, contained by 1.5920 on the downside.
Despite GBPUSD has been trading in a pretty slim range this week, it has manages to print mild gains for 5 consecutive days. Still, ahead of the Thanksgiving weekend break, trading will likely remain subdued.
At time of writing, GBPUSD is trading at the 1.5930/35 zone, up 0.1% on the day. Valeria Bednarik, chief analyst at FXstreet.com notes that the upside is favored as long as price holds above the 1.5920 mark in the short term. Bednarik locates next resistance levels at 1.5950, 1.5990 and 1.6025, while supports are seen at 1.5920, 1.5885 and 1.5850.
Despite GBPUSD has been trading in a pretty slim range this week, it has manages to print mild gains for 5 consecutive days. Still, ahead of the Thanksgiving weekend break, trading will likely remain subdued.
At time of writing, GBPUSD is trading at the 1.5930/35 zone, up 0.1% on the day. Valeria Bednarik, chief analyst at FXstreet.com notes that the upside is favored as long as price holds above the 1.5920 mark in the short term. Bednarik locates next resistance levels at 1.5950, 1.5990 and 1.6025, while supports are seen at 1.5920, 1.5885 and 1.5850.
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