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16 Aug 2013
GBP/USD rejected from above 1.5650
FXstreet.com (Córdoba) - After repeated failure to decisively break above the 1.5650/55 area, GBP/USD turned lower and retraced some of its recent gains, dropping to fresh daily lows in recent dealings.
The GBP/USD hit a fresh 2-month high of 1.5655, but was rejected from that level and surrendered gains, dipping into negative ground for the day. At time of writing, GBP/USD is trading at the 1.5610 zone, down 0.2% on the day, having scored a daily low of 1.5606 in recent dealings.
GBP/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.5606/00 (daily lows/psychological level) and 1.5517 (200-day SMA). On the other hand, if GBP/USD manages to break above the 1.5650/55 area, next resistances could be found at 1.5678 (Jun 19 high) and 1.5700 (psychological level).
The GBP/USD hit a fresh 2-month high of 1.5655, but was rejected from that level and surrendered gains, dipping into negative ground for the day. At time of writing, GBP/USD is trading at the 1.5610 zone, down 0.2% on the day, having scored a daily low of 1.5606 in recent dealings.
GBP/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.5606/00 (daily lows/psychological level) and 1.5517 (200-day SMA). On the other hand, if GBP/USD manages to break above the 1.5650/55 area, next resistances could be found at 1.5678 (Jun 19 high) and 1.5700 (psychological level).