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GBP/USD bounces and hits fresh daily highs

FXStreet (Córdoba) - GBP/USD staged a recovery and pushed to fresh daily highs after briefly dipping to negative ground for the day. However and despite intraday swings, the pair continues to trade within last week’s range, searching for short-term direction.

GBP/USD bounced from a low of 1.5627 and rose over half a cent to a high of 1.5693, faltering just ahead of the 1.57 mark. At time of writing, the pair is trading at 1.5680, up 0.19% on the day.

On the data front, US November preliminary services PMI is on tap, along with the Chicago Fed national activity index and the Dallas Fed manufacturing business index.

GBP/USD levels to watch

As for technical levels, immediate resistances could be found at 1.5693 (daily high), 1.5700/04 (psychological level/10-day SMA) and 1.5712 (Nov 21 high). On the other hand, supports are seen at 1.5625 (Nov 21 low), 1.5589 (2014 low Nov 19) and 1.5564 (Sept 6 2013 low).

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