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15 Jan 2015
GBP/USD wavers around 1.5200
FXStreet (Córdoba) - GBP/USD has had a quiet day considering the turbulence in FX markets triggered by Swiss National Bank decision to abandon the franc cap.
Cable fell to a low of 1.5156 as immediate reaction, but it managed to erase intraday losses and climbed to fresh daily highs at the 1.5265 area. GBP/USD has steadied a few pips above 1.5200, where it trades little changed on the day, despite GBP/CHF strong slump toward the 1.2740 zone, level last seen in 2011.
GBP/USD technical outlook
“The 1 hour chart shows price below its 20 SMA as indicators head lower around their midlines, while in the 4 hours chart the price holds above a bullish 20 SMA whilst indicators continue to aim higher after bouncing from their midlines, keeping the downside limited for now”, said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates immediate resistance levels at 1.5220, 1.5275 and 1.5320, while she sees supports at 1.5180, 1.5145 and 1.5100.
Cable fell to a low of 1.5156 as immediate reaction, but it managed to erase intraday losses and climbed to fresh daily highs at the 1.5265 area. GBP/USD has steadied a few pips above 1.5200, where it trades little changed on the day, despite GBP/CHF strong slump toward the 1.2740 zone, level last seen in 2011.
GBP/USD technical outlook
“The 1 hour chart shows price below its 20 SMA as indicators head lower around their midlines, while in the 4 hours chart the price holds above a bullish 20 SMA whilst indicators continue to aim higher after bouncing from their midlines, keeping the downside limited for now”, said Valeria Bednarik, chief analyst at FXStreet.
Bednarik locates immediate resistance levels at 1.5220, 1.5275 and 1.5320, while she sees supports at 1.5180, 1.5145 and 1.5100.