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GBP/USD consolidates at daily lows

FXStreet (Córdoba) - GBP/USD steadied near daily lows and has spent the last hours in a narrow range around 1.5750, after pulling back from 2-week highs in the 1.5825 zone.

GBP/USD was rejected from above 1.5800 and slid all the way back to 1.5738 before finding support. In the absence of economic data and with trading subdued given the Thanksgiving holiday in US, the pair may extend its consolidation phase throughout American hours.

GBP/USD technical levels


At time of writing, Cable is trading at 1.5744, 0.28% below its opening price. In terms of technical levels, GBP/USD could find immediate supports at 1.5738/35 (Nov 27 low/Nov 20 & 25 highs), 1.5690 (10-day SMA) and 1.5649 (Nov 25 low). On the flip side, resistances are seen at 1.5825 (daily high), 1.5873 (Oct 15 low) and 1.5900 (psychological level).

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