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7 May 2013
Forex: GBP/USD trims losses but remains below 1.5500
FXstreet.com (Córdoba) - The British pound has managed to recover ground against the dollar, after slumping to an 11-day low during the New York session amid reports of an UK clearer selling the currency.
GBP/USD bottomed out at 1.5445 but found buyers at that level and climbed back to the 1.5485 area during the American afternoon. At time of writing, GBP/USD is trading around 1.5480, still 0.3% below its opening price.
In terms of technical levels, next supports are seen at 1.5445 (daily low) and 1.5417 (low Apr 26). On the flip side, resistances could be found at 1.5520 (former support level) and 1.5550 (100-hour SMA).
GBP/USD bottomed out at 1.5445 but found buyers at that level and climbed back to the 1.5485 area during the American afternoon. At time of writing, GBP/USD is trading around 1.5480, still 0.3% below its opening price.
In terms of technical levels, next supports are seen at 1.5445 (daily low) and 1.5417 (low Apr 26). On the flip side, resistances could be found at 1.5520 (former support level) and 1.5550 (100-hour SMA).