30 Jul 2015
GBP/USD falls to fresh lows sub-1.5600
FXStreet (Córdoba) - GBP/USD erased completely intraday gains and fell into negative territory for the day as the greenback strengthened across the board in the wake of yesterday’s Fed statement and today’s GDP figures.
GBP/USD had climbed to a high of 1.5639 during the European session but failed to sustain gains and dipped back below 1.5600 to set a fresh low of 1.5571. At time of writing, Cable is trading at 1.5593, virtually unchanged on the day.
With no first-tier data scheduled in the UK or the US for the rest of the week, trading might remain subdued following a busy week, although month-end flows could trigger some turbulence.
GBP/USD levels to watch
As for technical levels, GBP/USD could find immediate supports at 1.5571 (Jul 30 low/200-hour SMA), 1.5527 (Jul 28 low) and 1.5490 (Jul 27 low). On the other hand, resistances could be found at 1.5639 (Jul 30 high), 1.5689 (Jul 29 low) and 1.5700 (psychological level).
GBP/USD had climbed to a high of 1.5639 during the European session but failed to sustain gains and dipped back below 1.5600 to set a fresh low of 1.5571. At time of writing, Cable is trading at 1.5593, virtually unchanged on the day.
With no first-tier data scheduled in the UK or the US for the rest of the week, trading might remain subdued following a busy week, although month-end flows could trigger some turbulence.
GBP/USD levels to watch
As for technical levels, GBP/USD could find immediate supports at 1.5571 (Jul 30 low/200-hour SMA), 1.5527 (Jul 28 low) and 1.5490 (Jul 27 low). On the other hand, resistances could be found at 1.5639 (Jul 30 high), 1.5689 (Jul 29 low) and 1.5700 (psychological level).