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5 Feb 2015
GBP/USD consolidates below 1.5300
FXStreet (Córdoba) - GBP/USD briefly rose above the 1.53 mark and posted a 1-month high supported by solid UK housing data and following the BoE decision, which turned out to be a non-event.
GBP/USD is advancing for third day in a row, moving away from its 18-month low of 1.4950 scored last week. However, after peaking at 1.5313, Cable lost momentum and gave up the psychological level. With the subsequent pullback contained by the 1.5280 area, the pair entered a consolidation phase over the last hours.
GBP/USD levels to watch
At time of writing, the pair is trading at 1.5290, recording a 0.76% gain on Thursday. On the upside, a break above 1.5313/20 area would target 1.5390 (50-day SMA) and 1.5400 (psychological level). On the other hand, supports are seen at 1.5250 (Feb 4 high) and 1.5200 (psychological level).
GBP/USD is advancing for third day in a row, moving away from its 18-month low of 1.4950 scored last week. However, after peaking at 1.5313, Cable lost momentum and gave up the psychological level. With the subsequent pullback contained by the 1.5280 area, the pair entered a consolidation phase over the last hours.
GBP/USD levels to watch
At time of writing, the pair is trading at 1.5290, recording a 0.76% gain on Thursday. On the upside, a break above 1.5313/20 area would target 1.5390 (50-day SMA) and 1.5400 (psychological level). On the other hand, supports are seen at 1.5250 (Feb 4 high) and 1.5200 (psychological level).