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Even though the pound made a bounce attempt during the American session, it failed to sustain gains and dipped back to negative ground for the day, putting GBP/USD on track for its fifth daily loss in a row.
GBP/USD bottomed out at 1.5199 at the beginning of the New York session and bounced, but the recovery was limited by 1.5290, forcing the pair to pull back. At time of writing, Cable is trading at 1.5235, still a few pips below its opening price, as investors turn their attention to Fed Yellen speech.
GBP/USD key levels
As for technical levels, next supports are seen at 1.5199 (Sep 24 low), 1.5164 (Sep 4 low) and 1.5149 (May 6 low). On the upside, resistances line up at 1.5288 (Sep 24 high), 1.5337 (200-day SMA) and 1.5365 (Sep 23 high).
GBP/USD bottomed out at 1.5199 at the beginning of the New York session and bounced, but the recovery was limited by 1.5290, forcing the pair to pull back. At time of writing, Cable is trading at 1.5235, still a few pips below its opening price, as investors turn their attention to Fed Yellen speech.
GBP/USD key levels
As for technical levels, next supports are seen at 1.5199 (Sep 24 low), 1.5164 (Sep 4 low) and 1.5149 (May 6 low). On the upside, resistances line up at 1.5288 (Sep 24 high), 1.5337 (200-day SMA) and 1.5365 (Sep 23 high).
