GBP/USD Fails to Sustain Gains Above 1.4500
GBP/USD
failed to sustain gains and retreated from highs above 1.4500 over the
last hours as the greenback gathers pace versus most competitors.
GBP/USD rallied to a peak of 1.4530 during the European session despite BoE warned about negative consequences of a Brexit
in the UK economy. However, Cable lost momentum and turned lower,
retreating to the 1.4450 zone and practically erasing intraday gains. At
time of writing, GBP/USD is trading at 1.4455, just a few pips above
its opening price.
GBP/USD levels to consider
As for technical levels, immediate resistances line up at 1.4530 (May 12
high) and 1.4570 (May 4 high). On the flip side, supports could be
faced at 1.4359 (100-day SMA), 1.4330 (50-day SMA) and 1.4270 (Apr 19
low).
