GBP/USD dips below 10-day SMA

By FXStreet FXStreet (Córdoba) – Following a short-lived upside attempt, GBP/USD turned lower and fell sharply toward fresh daily lows as the greenback picked up pace across the board.

After retesting highs at 1.5183, a stronger dollar dragged GBP/USD below the 10-day SMA to a low of 1.5103 in a matter of minutes. However, overall the pair continues to trade within its recent range as investors await the Federal Reserve verdict tomorrow. At time of writing, GBP/USD is trading at 1.5106, still down 0.22% on the day

GBP/USD levels to watch

In terms of technical levels, if Cable breaks below the 1.5100 zone (psychological level) next support area is seen at 1.5003/00 (Dec 9 low/psychological level). On the flip side, resistances could be found at at 1.5184 (Dec 15 high), 1.5235/38 (50-day SMA/Dec 11 high) and 1.5300 (psychological level) ahead of 1.5319 (200-day SMA).

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Source:: FX Street