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15 Dec 2014
GBP/USD faces stiff resistance at 1.5750 levels
FXStreet (Mumbai) - Cable trades higher today heading towards the European opening bells, consolidating above 1.57 handle for four consecutive days in a row.
The GBP/USD pair trades higher at 1.5738 levels, up 0.13%, after having recorded day’s high of 1.5747 levels an hour ago. GBP/USD remains elevated as the US dollar erases gains from the Asian hours against most if its peers. The US dollar index, which measures the greenback against a basket of six major currencies, continues to decline from the strongest level since March 2009 to trade at 88.23, down by -0.15%, on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5756 (Dec 11 High) above which gains could be extended to 1.5782 (Nov 13 High) levels. On the flip side, support is seen at 1.5711 (50-day SMA), below which it could extend losses to 1.5698 (100-day SMA) levels.
The GBP/USD pair trades higher at 1.5738 levels, up 0.13%, after having recorded day’s high of 1.5747 levels an hour ago. GBP/USD remains elevated as the US dollar erases gains from the Asian hours against most if its peers. The US dollar index, which measures the greenback against a basket of six major currencies, continues to decline from the strongest level since March 2009 to trade at 88.23, down by -0.15%, on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5756 (Dec 11 High) above which gains could be extended to 1.5782 (Nov 13 High) levels. On the flip side, support is seen at 1.5711 (50-day SMA), below which it could extend losses to 1.5698 (100-day SMA) levels.