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3 Aug 2015
GBP/USD fails to hold above 1.5600
FXStreet (Córdoba) - GBP/USD recovered from lows and erased intraday losses as the dollar receded across the board following disappointing US ISM manufacturing data, but failed to hold above the 1.56 mark for long.
GBP/USD bottomed out at 1.5564 before the Wall Street opening bell, but bounced following a weak reading of ISM manufacturing PMI. However, with the upside capped by the 1.5620 zone, Cable eased back to the 1.5600area where it trades at time of writing, still 0.13% down on the day.
GBP/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.5623 (intraday high), 1.5644 (Aug 3 high) and 1.5677 (Jul 31 high). On the flip side, supports could be found at 1.5564 (Aug 1.5551 (50-day SMA) and 1.5525 (Jul 28 low).
GBP/USD bottomed out at 1.5564 before the Wall Street opening bell, but bounced following a weak reading of ISM manufacturing PMI. However, with the upside capped by the 1.5620 zone, Cable eased back to the 1.5600area where it trades at time of writing, still 0.13% down on the day.
GBP/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.5623 (intraday high), 1.5644 (Aug 3 high) and 1.5677 (Jul 31 high). On the flip side, supports could be found at 1.5564 (Aug 1.5551 (50-day SMA) and 1.5525 (Jul 28 low).