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30 Dec 2014
GBP/USD wavers above 1.5500
FXStreet (Córdoba) - GBP/USD has spent most of the European session within a half-cent range contained by the 1.5500 mark on the downside, but unable to move far away from its 2014 low scored before Christmas.
GBP/USD was helped to move off the 1.55 mark by USD/JPY drop through 120.00, but the bounce lost momentum and stalled at a high of 1.5546. Cable has pulled back a few pips ever since and it is currently trading at 1.5530, still up 0.11% on the day.
GBP/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes GBP/USD maintains the overall bearish tone. "A break below 1.5485, this year low, is required to confirm further declines, eyeing an approach to 1.5440 in the short term and as long as sellers surge on approaches to 1.5560", the analyst said. "Above this level on the other hand, the pair may extend its upward correction up to the 1.5600 price zone".
GBP/USD was helped to move off the 1.55 mark by USD/JPY drop through 120.00, but the bounce lost momentum and stalled at a high of 1.5546. Cable has pulled back a few pips ever since and it is currently trading at 1.5530, still up 0.11% on the day.
GBP/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes GBP/USD maintains the overall bearish tone. "A break below 1.5485, this year low, is required to confirm further declines, eyeing an approach to 1.5440 in the short term and as long as sellers surge on approaches to 1.5560", the analyst said. "Above this level on the other hand, the pair may extend its upward correction up to the 1.5600 price zone".