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GBP/USD oscillates above 1.5000


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FXStreet (Córdoba) – GBP/USD has spent most of the day rangebound in a 100-pip range between 1.50-1.51, unable to set fresh short-term direction.

The pound has been underperforming versus the dollar despite supportive UK manufacturing data and below-expectations US figures. GBP/USD bottomed out at 1.5004 during the European session, but every recovery attempt was capped by the 1.5080 zone. At time of writing, the pair is trading at the 1.5020 zone, down 0.29% on the day.


GBP/USD levels to watch


In terms of technical levels, next supports are seen at 1.5005/00 (daily low/psychological level) and 1.4988 (Jan 30 low). On the upside, resistances could be found at 1.5085 (200-hour SMA) and 1.5100 (daily high/psychological level).