GBP/USD recovers from below 1.5000

By FXStreet FXStreet (Córdoba) – GBP/USD gathered pace and recovered from below the 1.5000 level, erasing intraday losses at the beginning of the New York session.

GBP/USD scored its lowest level since April at 1.4993 during the European session amid dollar strength and with UK data failing to provide support to the pound. However, GBP/USD managed to move off lows afterward, with the pair climbing to the 1.5030 zone in recent dealings. At time of writing, Cable is trading at 1.5022, still a few pips below its opening price.

GBP/USD technical levels

In terms of technical levels, GBP/USD could find immediate resistances at 1.5078 (100-hour SMA), 1.5109 (Nov 27 high) and 1.5142 (10-day SMA). On the other hand, supports could be faced at 1.4993 (7-month low Nov 30), 1.4959 (Apr 23 low) and 1.4913 (Apr 22 low).
For more information, read our latest forex news. …read more

Source:: FX Street