GBP/USD back to square one, ignores US PMIs

By FXStreet FXStreet (Córdoba) – GBP/USD retraced European session gains and settled around the flat line over the last hours, as the greenback takes back losses across the board.

GBP/USD reached a 10-day high of 1.5244, but came under pressure and slid all the way back to 1.5160 before finding support at the 100-hour SMA. At time of writing, the pair is trading at 1.5170, virtually unchanged on the day, with the latest string of US PMIs having little impact on the dollar.

Even though ugly US jobs data raised concerns the Fed will have to wait before hiking rates, it will be likely the first major central bank to do so. This week, the Bank of England will decide on monetary policy, but no changes are expected.

GBP/USD levels to watch

In terms of technical levels, next supports are seen at 1.5160 (Oct 5 low/100-hour SMA), 1.5125 (Oct 2 low) and 1.5106 (Oct 1 low). On the flip side, resistances line up at 1.5244 (Oct 5 high), 1.5260 ( Sep 25 high), 1.5282 (Sep 24 high).
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Source:: FX Street