FXStreet (Córdoba) – The pound has cut some of its Friday’s gains versus the dollar, rejected once again by the 1.4940-50 resistance area in thin trading conditions.
GBP/USD pulled back from a peak of 1.4944 and slid briefly below the 1.49 mark before the 50-hour SMA offered support. Having bottomed out at 1.4895, Cable is currently trading at 1.4903, virtually unchanged on the day.
The British pound has underperformed once again versus a weaker dollar in the absence of top-tier data or fundamental events.
GBP/USD technical levels
As for technical levels, next supports could be found at 1.4859 (Dec 24 low), 1.4804/00 (Dec 22 low/psychological level) and 1.4700 (Apr 15 low/psychological level). On the flip side, resistances are seen at 1.4938-49 area (10-day SMA/Dec 24 & 18 highs), and 1.5000 (psychological level) and 1.5017 (21-day SMA).
(Market News Provided by FXstreet)