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2 May 2013
Forex: GBP/USD bounces from lows
FXstreet.com (Córdoba) - After dipping below the 1.5500 mark and hitting a 2-day low, the Cable managed to bounce and has recovered some ground within the last hours as investors now position for the NFP report.
GBP/USD rebounded from a low of 1.5495 following the European close and climbed back to the 1.5530 zone, where it is currently trading, still 0.1% below its opening price.
In terms of technical levels, GBP/USD could find next resistances at 1.5535 (intraday level) and 1.5590 (daily high) ahead of 1.5605. On the other hand, supports line up at 1.5495 (daily low), 1.5465 (low Apr 30) and 1.5420/17 (200-hour SMA/low Apr 26).
GBP/USD rebounded from a low of 1.5495 following the European close and climbed back to the 1.5530 zone, where it is currently trading, still 0.1% below its opening price.
In terms of technical levels, GBP/USD could find next resistances at 1.5535 (intraday level) and 1.5590 (daily high) ahead of 1.5605. On the other hand, supports line up at 1.5495 (daily low), 1.5465 (low Apr 30) and 1.5420/17 (200-hour SMA/low Apr 26).