12 Dec 2014
Cable hovers above 10-day SMA
FXStreet (Mumbai) - Cable trades mostly flat heading towards the European opening bells, holding on to four consecutive days of gains against the US dollar.
The GBP/USD pair trades unchanged at 1.5729 levels, closer to the day’s high of 1.5732 levels hit during early Asian hours. GBP/USD remains pressured after the US dollar gained strength after the release of robust economic numbers yesterday. The US dollar remains underpinned ahead of the release of higher than market forecasts US consumer sentiment data.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5744 (Dec 2 High), above which gains could be extended to 1.5765 (Dec 1 High) levels. On the flip side, support is seen at 1.5723 (10-day SMA), below which it could extend losses to 1.5703 (50-day SMA) levels.
The GBP/USD pair trades unchanged at 1.5729 levels, closer to the day’s high of 1.5732 levels hit during early Asian hours. GBP/USD remains pressured after the US dollar gained strength after the release of robust economic numbers yesterday. The US dollar remains underpinned ahead of the release of higher than market forecasts US consumer sentiment data.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5744 (Dec 2 High), above which gains could be extended to 1.5765 (Dec 1 High) levels. On the flip side, support is seen at 1.5723 (10-day SMA), below which it could extend losses to 1.5703 (50-day SMA) levels.