GBP/USD settled in a lower range on Thursday as the greenback strengthened a tad following the Federal Reserve statement.
GBP/USD climbed to a daily high of 1.5161 during the European session, but was rejected and sent to a low of 1.5109. In the absence of first-tier data from the UK, the pair entered a consolidation phase as investors await US pending home sales, jobless weekly claims and and a series of earning reports from Wall Street.
GBP/USD technical levels
At time of writing, Cable is trading at the 1.5125 zone, still a few pips below its opening price. As for technical levels, next supports are seen at 1.5109 (daily low/200-hour SMA), 1.5100 (psychological level) and 1.5058 (Jan 27 low). On the flip side, resistances could be found at 1.5161 (daily high), 1.5200 (psychological level) and the 1.5119/22 area (Jan 28 & 27 highs).
GBP/USD climbed to a daily high of 1.5161 during the European session, but was rejected and sent to a low of 1.5109. In the absence of first-tier data from the UK, the pair entered a consolidation phase as investors await US pending home sales, jobless weekly claims and and a series of earning reports from Wall Street.
GBP/USD technical levels
At time of writing, Cable is trading at the 1.5125 zone, still a few pips below its opening price. As for technical levels, next supports are seen at 1.5109 (daily low/200-hour SMA), 1.5100 (psychological level) and 1.5058 (Jan 27 low). On the flip side, resistances could be found at 1.5161 (daily high), 1.5200 (psychological level) and the 1.5119/22 area (Jan 28 & 27 highs).
