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Forex: GBP/USD back below 1.5300

FXstreet.com (Córdoba) - Whippy price action continues is the main theme in the FX space on Thursday, with most crosses swinging without a clear direction. GBP/USD bounced from a low of 1.5213 at the beginning of the NY session and after a nearly 100-pip rally finally found resistance at 1.5311.

However, the Cable failed to sustain gains above 1.5300 and retreated to the 1.5275 zone. At time of writing, GBP/USD is trading around 1.5280, up 0.3% on the day.

On the upside, next resistances could be found at 1.5310 and 1.5370 (Apr 17 high) followed by 1.5386 (Apr 15 high). On the downside, immediate supports could be found 1.5213 (Apr 18 low) and 1.5200 (psychological level).

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