8 Dec 2014
GBP/USD bulls attempts just a fade?
FXStreet (Guatemala) - GBP/USD is trading at 1.5656, up 0.55% on the day, having posted a daily high at 1.5681 and low at 1.5541.
GBP/USD is higher on broad dollar weakness ahead of key data releases that come in the form of industrial production this week where analysts are expecting a good performance that the bulls may be aided by. However, we have rallied into strongly over bought territory that the less committed bulls are fading. We are now looking towards pressure that may come from the mid point of the 1.57 handle if reached, ahead of 1.5825, being the November 27 daily high.
GBP/USD noteworthy levels
Current price is 1.5657, with resistance ahead at 1.5657 (Daily Classic R1), 1.5681 (Daily High), 1.5685 (Hourly 200 SMA), 1.5697 (Yesterday's High) and 1.5703 (Weekly Classic R1). Next support to the downside can be found at 1.5648 (Hourly 100 SMA), 1.5635 (Weekly Classic PP), 1.5614 (Hourly 20 EMA), 1.5612 (Daily Classic PP) and 1.5574 (Daily Open).
GBP/USD is higher on broad dollar weakness ahead of key data releases that come in the form of industrial production this week where analysts are expecting a good performance that the bulls may be aided by. However, we have rallied into strongly over bought territory that the less committed bulls are fading. We are now looking towards pressure that may come from the mid point of the 1.57 handle if reached, ahead of 1.5825, being the November 27 daily high.
GBP/USD noteworthy levels
Current price is 1.5657, with resistance ahead at 1.5657 (Daily Classic R1), 1.5681 (Daily High), 1.5685 (Hourly 200 SMA), 1.5697 (Yesterday's High) and 1.5703 (Weekly Classic R1). Next support to the downside can be found at 1.5648 (Hourly 100 SMA), 1.5635 (Weekly Classic PP), 1.5614 (Hourly 20 EMA), 1.5612 (Daily Classic PP) and 1.5574 (Daily Open).