GBP/USD breaks above 1.5100, turns positive for the week

By FXStreet FXStreet (Córdoba) – The US dollar faced another wave of selling at the beginning of the New York session sending GBP/USD to fresh weekly highs above 1.5100.

GBP/USD has already taken back Monday and Tuesday losses and is trading in positive ground for the week, with a high posted at 1.5141 in recent dealings. At time of writing, the pair was at 1.5128, up 0.81% on the day, eyeing post-ECB highs around 1.5160.

Meanwhile, main focus remains on Bank of England Super Thursday ahead of the more decisive Federal Reserve meeting next week.

GBP/USD technical levels

In terms of technical levels, immediate resistances line up at 1.5141 (Dec 9 high), 1.5158 (Dec 3 high) and then 1.5234 (50-day SMA). On the other hand, supports could be found at 1.5000 (psychological level/intraday low), 1.4955 (Dec 8 low) and 1.4894 (Dec 2 low).

——-
What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 – The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18thand get the recording too.
——-

For more information, read our latest forex news. …read more

Source:: FX Street