GBP/USD hovers below 1.5300

By FXStreet FXStreet (Córdoba) – GBP/USD managed to rise further and printed fresh highs for the day during a quiet American session given the US Labour Day holiday.

The pound was among the best performers Monday, recovering from a 4-month low of 1.5164 scored last Friday on the back of US nonfarm payrolls release. GBP/USD has climbed as high as 1.5287 in recent dealings and it was last trading at 1.5280, recording a 0.73% daily gain.

Next Thursday, the Bank of England will decide on monetary policy, although no changes are expected at this point.

GBP/USD technical levels

In terms of technical levels, immediate resistances line up 1.5287 (Sep 7 high), 1.5300 (psychological level) and 1.5355 (200-day SMA). On the flip side, supports could be found at 1.5164 (Sep 4 low) and 1.5088 (May 5 low) ahead 1.5026 (Apr 24 low).
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Source:: FX Street