21 May 2015
GBP/USD testing 200-hour MA at 1.5650
FXStreet (Cocoa) - The British Pound is retracing previous gains against the US dollar as the pair is under pressure after recent US economic data. After falling 50 pips from 1.5700, the GBP/USD is testing the 1.5650, 200-hour MA.
Currently, GBP/USD is trading at 1.5653, up 0.77% on the day, having posted a daily high at 1.5702 and low at 1.5525. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
Earlier in the morning, the Sterling reached a 3-day high of 1.5699 against the Greenback supported by UK data, but failed to break above the 1.57 mark.
GBP/USD levels
If the pair extends decline beyond 1.5650, supports are at 1.5600 and 1.5580. To the upside, resistances are at 1.5700, 1.5720 and 1.5760.
Currently, GBP/USD is trading at 1.5653, up 0.77% on the day, having posted a daily high at 1.5702 and low at 1.5525. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
Earlier in the morning, the Sterling reached a 3-day high of 1.5699 against the Greenback supported by UK data, but failed to break above the 1.57 mark.
GBP/USD levels
If the pair extends decline beyond 1.5650, supports are at 1.5600 and 1.5580. To the upside, resistances are at 1.5700, 1.5720 and 1.5760.