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31 Dec 2014
GBP/USD climbs above 1.5600
FXStreet (Córdoba) - The pound picked up momentum and rose across the board, with GBP/USD breaking above the 1.5600 level and EUR/GBP falling below 0.7800 entering the last trading hour of the year in London.
GBP/USD extended its recovery from the 1.5575 zone and managed to pierce the 1.56 mark, climbing to a 9-day peak of 1.5619 before losing steam. At time of writing, Cable is trading at 1.5605, recording a 0.29% gain on the day.
The pound is on track to post its sixth monthly loss in a row in December and the year nearly 6% lower.
GBP/USD levels to watch
If GBP/USD breaks above 1.5620/25, next resistances line up at 1.5681 (Dec 19 high) and 1.5700 (psychological level). On the other hand, supports are seen at 1.5548 (daily low), 1.5500 (psychological level/Dec 30 low) and 1.5485 (2014 low Dec 23).
GBP/USD extended its recovery from the 1.5575 zone and managed to pierce the 1.56 mark, climbing to a 9-day peak of 1.5619 before losing steam. At time of writing, Cable is trading at 1.5605, recording a 0.29% gain on the day.
The pound is on track to post its sixth monthly loss in a row in December and the year nearly 6% lower.
GBP/USD levels to watch
If GBP/USD breaks above 1.5620/25, next resistances line up at 1.5681 (Dec 19 high) and 1.5700 (psychological level). On the other hand, supports are seen at 1.5548 (daily low), 1.5500 (psychological level/Dec 30 low) and 1.5485 (2014 low Dec 23).