16 Dec 2014
GBP/USD retreats below 1.5740
FXStreet (Córdoba) - GBP/USD lost bullish momentum during the last hours and particularly after Wall Street opening bell and trimmed gains. The pair failed to hold above 1.5740 and dropped to 1.5723. Currently trades at 1.5725, a hundred pips above the level it had at the beginning of the day.
Earlier the pound rallied to 1.5784, hitting the highest price in almost three weeks but retreated and it was unable to consolidate above 1.5770.
Greenback gained strength across the board during the last hours and recovered ground. EUR/USD retreated toward 1.2500 while USD/JPY jumped more than a hundred pips from the lows and it was back above 117.07.
GBP/USD technical levels
To the upside, immediate resistance could now be located at 1.5740, 1.5770 and 1.5785 (daily high) while to the downside, support might lie at 1.5715 (intraday level), 1.5690 and 1.5650.
Earlier the pound rallied to 1.5784, hitting the highest price in almost three weeks but retreated and it was unable to consolidate above 1.5770.
Greenback gained strength across the board during the last hours and recovered ground. EUR/USD retreated toward 1.2500 while USD/JPY jumped more than a hundred pips from the lows and it was back above 117.07.
GBP/USD technical levels
To the upside, immediate resistance could now be located at 1.5740, 1.5770 and 1.5785 (daily high) while to the downside, support might lie at 1.5715 (intraday level), 1.5690 and 1.5650.