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27 Nov 2014
GBP/USD falls back below 1.5800
FXStreet (Córdoba) - After reaching a 2-week high, GBP/USD pulled back under the influence of EUR/USD losses and slid back below the 1.6800 level.
Cable extended its recovery and hit its highest level since Nov 12 at 1.5825, but found sellers and surrendered gains. GBP/USD has fallen to a daily low of 1.5747, turning intraday negative. At time of writing, the is trading at 1.5760, recording a 0.18% loss on the day.
Euro came under pressure during the European morning, dragging pound with it, after another round of Draghi's dovish comments and soft Eurozone data.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find immediate supports at 1.5735 (Nov 20 & 25 highs), 1.5690 (10-day SMA) and 1.5649 (Nov 25 low). On the other hand, resistances are seen at 1.5825 (daily high), 1.5873 (Oct 15 low) and 1.5900 (psychological level).
Cable extended its recovery and hit its highest level since Nov 12 at 1.5825, but found sellers and surrendered gains. GBP/USD has fallen to a daily low of 1.5747, turning intraday negative. At time of writing, the is trading at 1.5760, recording a 0.18% loss on the day.
Euro came under pressure during the European morning, dragging pound with it, after another round of Draghi's dovish comments and soft Eurozone data.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find immediate supports at 1.5735 (Nov 20 & 25 highs), 1.5690 (10-day SMA) and 1.5649 (Nov 25 low). On the other hand, resistances are seen at 1.5825 (daily high), 1.5873 (Oct 15 low) and 1.5900 (psychological level).