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GBP/USD erases daily gains, back to 1.5500 area

FXStreet (Córdoba) - GBP/USD retreated from daily highs and trimmed most of its intraday gains during the last hours as the dollar received a mild boost while investors adjust positions ahead of the Federal Reserve decision.

GBP/USD reached a peak of 1.5548 but failed to sustain gains and dipped back below the 1.55 mark to trade little changed on the day at the 1.5495 area.

Movements in financial markets remain limited heading into the Fed decision on monetary policy, when the central bank could announce its first rate raise in nearly a decade.

GBP/USD levels to watch

On the upside, next resistances are seen at 1.5548 (Sep 17 high), 1.5687 (Aug 17 high) and 1.5719 (Aug 26 high). On the other hand, supports could be found at 1.5485 (Sep 17 low), 1.5442 (21-day SMA) and 1.5345 (200-day SMA).

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