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9 Sep 2013
GBP/USD struggling with 1.5700
FXstreet.com (Córdoba) - The GBP/USD gathered pace and extended gains at the beginning of the New York session as the greenback faces a wave of selling.
GBP/USD faces resistance at 1.5700
However, the GBP/USD lacked enough momentum to break above the 1.5700 mark, stalling just at the psychological level, where it printed its highest in 3 weeks. At time of writing, GBP/USD is trading at the 1.5695 zone, recording a 0.5% gain on Monday.
GBP/USD technical levels
If GBP/USD manages to break above the 1.5700 level, next resistances line up at 1.5715 (Aug 21 high) and 1.5750 (Jun17 high). On the other hand, supports on dips are seen at 1.5650 (20-hour SMA) and 1.5612 (daily low) ahead of the 1.5600 mark.
GBP/USD faces resistance at 1.5700
However, the GBP/USD lacked enough momentum to break above the 1.5700 mark, stalling just at the psychological level, where it printed its highest in 3 weeks. At time of writing, GBP/USD is trading at the 1.5695 zone, recording a 0.5% gain on Monday.
GBP/USD technical levels
If GBP/USD manages to break above the 1.5700 level, next resistances line up at 1.5715 (Aug 21 high) and 1.5750 (Jun17 high). On the other hand, supports on dips are seen at 1.5650 (20-hour SMA) and 1.5612 (daily low) ahead of the 1.5600 mark.