FXStreet (Córdoba) – GBP/USD is going through a consolidation phase around the 1.59 mark, extending gains into a fifth consecutive day as investors continue to digest FOMC policy meeting.
GBP/USD climbed to its highest level since Nov 2014 at 1.5929 but found resistance and entered a consolidation phase in early American trade. Despite upbeat jobless claims and current account data, US consumer price figures came in below expectations adding pressure on the dollar.
GBP/USD levels to watch
At time of writing, GBP/USD is trading at 1.5893, recording a 0.40% gain on Thursday. On the upside, next resistance levels are seen at 1.5944 (Nov 11 2014 high) and 1.5996 (Nov 6 2014 high). On the downside, supports could be found at 1.5805 (Jun 18 low), 1.5655 (100-hour SMA) and 1.5624 (Jun 17 low).
(Market News Provided by FXstreet)