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26 Feb 2015
GBP/USD dips below 1.5400
FXStreet (Córdoba) - GBP/USD accelerated to the downside after breaking below the 1.5450 support area, reinforced by the 100-hour SMA, and dropped another half-a-cent toward to hit its lowest level in 3 days below 1.5400.
GBP/USD bottomed out at 1.5396 as the dollar rallied across the board following a batch of economic indicators, which showed durable goods orders rose for first time in 3 months, while consumer prices, excluding food and energy, rose by 0.2% last month, beating expectations.
GBP/USD technical levels
GBP/USD however, managed to move off lows and it is currently trading at the 1.5410 area, recording a 0.75% loss on the day. A decisive break below 1.5400 could send the pair to 1.5331 (Feb 23 low) next support area, en route to 1.5314 (Feb 17 low).
On the flip side, resistances are seen at 1.5450 (100-hour SMA), 1.5500 (psychological level) and 1.5551 (daily high).
GBP/USD bottomed out at 1.5396 as the dollar rallied across the board following a batch of economic indicators, which showed durable goods orders rose for first time in 3 months, while consumer prices, excluding food and energy, rose by 0.2% last month, beating expectations.
GBP/USD technical levels
GBP/USD however, managed to move off lows and it is currently trading at the 1.5410 area, recording a 0.75% loss on the day. A decisive break below 1.5400 could send the pair to 1.5331 (Feb 23 low) next support area, en route to 1.5314 (Feb 17 low).
On the flip side, resistances are seen at 1.5450 (100-hour SMA), 1.5500 (psychological level) and 1.5551 (daily high).