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29 Dec 2014
GBP/USD gets rejected at 10-DMA
FXStreet (Mumbai) - Cable trades almost flat during the mid-European session, giving away mild gains seen in the Asian session as the pair failed to break above the 10-DMA resistance located at 1.5582, after having previously hit a day’s high of 1.5586 levels.
The GBP/USD pair trades flat at 1.5569 levels, after having hit day’s low at 1.5552 levels. The pound remained subdued against the US dollar largely on account of a data-calm day. The pair is likely to consolidate above 1.5550 levels for the balance of the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5582 (10-DMA) above which gains could be extended to 1.5610 (Dec 23 High) levels. On the flip side, support is seen at 1.5550 levels, below which it could extend losses to 1.5484 (Dec 23 Low) levels
The GBP/USD pair trades flat at 1.5569 levels, after having hit day’s low at 1.5552 levels. The pound remained subdued against the US dollar largely on account of a data-calm day. The pair is likely to consolidate above 1.5550 levels for the balance of the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5582 (10-DMA) above which gains could be extended to 1.5610 (Dec 23 High) levels. On the flip side, support is seen at 1.5550 levels, below which it could extend losses to 1.5484 (Dec 23 Low) levels