GBP/USD Holds Above 1.4500
GBP/USD extended its downward correction during the New York session, sliding to its lowest level in two days before the 20-day SMA offered support.
Trading has been rather quiet on Friday in the absence of first-tier
data, with the dollar among the best performers across the board.
GBP/USD was dragged down to 1.4503 by a strong dollar and amid some
profit taking following four days of gains for the pound. At time of
writing, Cable was trading at 1.4515, down 0.64% on the day, but still
up 0.69% over the week.
GBP/USD levels to watch
As for technical levels, next supports are seen at 1.4505 (20-day SMA),
1.4476 (200-hour SMA) and 1.4395 (May 17 low). On the other hand,
resistances could be found at 1.4662 (May 19 high), 1.4695 (May 2 high)
and 1.4768 (May 3 high).
