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9 Dec 2014
GBP/USD completes a double bounce up towards 1.5700
FXStreet (Guatemala) - GBP/USD is trading at 1.5686, up 0.26% on the day, having posted a daily high at 1.5697 and low at 1.5626.
GBP/USD has been up to test the 1.57 handle but fell just shy of it on a spike and double bounce of yesterdays and todays business. The greenback is selling off up to these levels but fundamentally, the divergence between the /central Banks may limit how far the dollar can drop back into the year end.
The FOMC is the one to watch this month while there will be supportive data as we move deeper into the years end starting out this week. We have the UK trade balance tomorrow and US retail sales further into the week.
GBP/USD noteworthy levels
With spot trading at 1.5687, we can see next levels to the upside ahead at 1.5697 (Daily High), 1.5703 (Weekly Classic R1), 1.5704 (Daily Classic R1), 1.5724 (Daily 20 SMA) and 1.5762 (Daily Classic R2). To the downside on the 1.56 handle we have the 1.5674 (Hourly 200 SMA), 1.5651 (Hourly 20 EMA) and 1.5649 (Hourly 100 SMA).
GBP/USD has been up to test the 1.57 handle but fell just shy of it on a spike and double bounce of yesterdays and todays business. The greenback is selling off up to these levels but fundamentally, the divergence between the /central Banks may limit how far the dollar can drop back into the year end.
The FOMC is the one to watch this month while there will be supportive data as we move deeper into the years end starting out this week. We have the UK trade balance tomorrow and US retail sales further into the week.
GBP/USD noteworthy levels
With spot trading at 1.5687, we can see next levels to the upside ahead at 1.5697 (Daily High), 1.5703 (Weekly Classic R1), 1.5704 (Daily Classic R1), 1.5724 (Daily 20 SMA) and 1.5762 (Daily Classic R2). To the downside on the 1.56 handle we have the 1.5674 (Hourly 200 SMA), 1.5651 (Hourly 20 EMA) and 1.5649 (Hourly 100 SMA).