GBP/USD recovery capped by 20-hour SMA

FXstreet.com (Córdoba) – The GBP/USD bounced strongly from daily lows and trimmed some of its daily losses as the greenback pulled back across the board in a quite volatile day.

GBP/USD off daily lows

However, the recovery of the GBP/USD faltered at the 1.5555 area, where the 20-hour SMA offered resistance, forcing the pair lower. At time of writing, GBP/USD is trading at the 1.5530 zone, where it records a 0.3% loss on the day, but off its 2-week low scored earlier at 1.5480.

GBP/USD technical levels

As for technical levels, if GBP/USD extends its recovery past the 1.5555 area, next resistances could …read more