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31 Dec 2014
GBP/USD rejects the 1.5620 and falls to test MA 200 hours at 1.5575
FXStreet (San Francisco) - The rally of sterling against the dollar from 1.5550 found resistance at 1.5620 area, where the pair experienced a selling interest that sent it back to test the level of MA 200 hours of 1.5575.
Currently, GBP/USD is trading at 1.5576, up 0.13% on the day, having posted a daily high at 1.5622 and low at 1.5550. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
Ealier in the day, the GBP/USD rose since it was pressured to the upside from the EUR/GBP decline to lows since October. On a bigger timeframe, pound is on track to post its sixth monthly loss in a row in December and the year nearly 6% lower.
GBP/USD levels
Below the 1.5575, the GBP/USD will find supports at 1.5550 and 1.5500. To the upside, resistances are at 1.5620, 1.5660 and 1.5680.
Currently, GBP/USD is trading at 1.5576, up 0.13% on the day, having posted a daily high at 1.5622 and low at 1.5550. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
Ealier in the day, the GBP/USD rose since it was pressured to the upside from the EUR/GBP decline to lows since October. On a bigger timeframe, pound is on track to post its sixth monthly loss in a row in December and the year nearly 6% lower.
GBP/USD levels
Below the 1.5575, the GBP/USD will find supports at 1.5550 and 1.5500. To the upside, resistances are at 1.5620, 1.5660 and 1.5680.