GBP/USD fails to hold above 1.4300

GBP/USD made an attempt to extend its recovery beyond the 1.43 mark at the beginning of the New York session, but it was capped by the 10-day SMA and pulled back.

Cable pushed above the 1.4300 level and reached a high of 1.4318, coincidentally with a bout of dollar selling across the board, but the advance was short-lived. GBP/USD pulled back and it was last trading at 1.4275, recording a 0.52% gain on Friday.

In the meantime,  EU referendum campaigning suspended for a second day after the fatal attack to Jo Cox, a pro-EU UK lawmaker and a delayed poll are fueling uncertainty ahead of the Brexit vote next week.

GBP/USD technical levels

In terms of technical levels, immediate resistances could be faced 1.4327 (10-day SMA), 1.4349 (100-day SMA) and 1.4400 (psychological level). On the flip side, supports are seen at 1.4011 (Jun  16 low), 1.4004/00 (monthly low April/psychological level) and 1.3913 (Mar 2 low).