FXStreet (Córdoba) – GBP/USD rose to daily highs near the 1.50 mark as the greenback faces a wave of selling across the board on the back of sudden euro strength despite ECB decision to cut the deposit rate.
GBP/USD pick up momentum and rose toward a daily high of 1.5000 but failed to break above the psychological level and retreated slightly. At time of writing, the pair is trading at 1.4978, up 0.19% on the day.
On the data front, US data due for the session includes initial jobless claims, Markit services PMI, factory orders and Fed speakers, including Chair Yellen.
GBP/USD levels to watch
As for technical levels, immediate resistances are seen at 1.5000 (psychological level), 1.5070 (10-day SMA), 1.5125 (Dec 1 high). On the flip side, supports could be found at 1.4893 (7-month low Dec 2) followed by 1.4855 (Apr 21 low) and then 1.4810 (Apr 16 low).
(Market News Provided by FXstreet)