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9 Sep 2015
GBP/USD finds support at 200-day SMA
FXStreet (Córdoba) - GBP/USD is facing mild selling pressure on Wednesday, and it has pulled back from above 1.5400 following a round of disappointing UK data, including industrial production and trade balance figures.
GBP/USD has been slowly retreating from yesterday’s 10-day peak of 1.5411, but the downside has been contained by the 200-day SMA at the 1.5350 zone so far. At time of writing, the pair is trading at 1.5365, recording a 0.19% loss on the day.
The NIESR UK GDP estimate is due later today, while there is no first-tier data scheduled in US. On Thursday, the Bank of England will announce its monetary policy decision although no changes are expected.
GBP/USD levels to watch
As for technical levels, GBP/USD could find next supports at 1.5349/51 (Sep 9 low/200-day SMA), 1.5300 (psychological level) and 1.5268 (Sep 8 low). On the other hand, resistances are seen at 1.5411 (Sep 8 high), 1.5442 (Aug 28 high) and 1.5500 (psychological level/100-day SMA).
GBP/USD has been slowly retreating from yesterday’s 10-day peak of 1.5411, but the downside has been contained by the 200-day SMA at the 1.5350 zone so far. At time of writing, the pair is trading at 1.5365, recording a 0.19% loss on the day.
The NIESR UK GDP estimate is due later today, while there is no first-tier data scheduled in US. On Thursday, the Bank of England will announce its monetary policy decision although no changes are expected.
GBP/USD levels to watch
As for technical levels, GBP/USD could find next supports at 1.5349/51 (Sep 9 low/200-day SMA), 1.5300 (psychological level) and 1.5268 (Sep 8 low). On the other hand, resistances are seen at 1.5411 (Sep 8 high), 1.5442 (Aug 28 high) and 1.5500 (psychological level/100-day SMA).