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Forex: GBP/USD backs away from highs

FXstreet.com (Córdoba) - The British pound is giving up ground versus the dollar at the beginning of the NY session, as the recent rally found resistance at 1.5545 where the pair scored a 2 ½-month high earlier on the day.

GBP/USD was rejected from highs and briefly dipped back below 1.5500 to touch a session low of 1.5498 amid profit taking. At time of writing, GBP/USD is trading around 1.5505/10, still 0.2% above its opening price.

As for technical levels, next resistances are seen at 1.5545 (daily high), 1.5570 (100-day SMA) and 1.5600 (psychological level). On the other hand, below 1.5500 supports line up at 1.5470 (daily low), 1.5417 (low Apr 26) and 1.5400.

Forex: USD/JPY ranges below 98.00

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