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GBP/USD fails to hold above 1.5500


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FXStreet (Córdoba) – GBP/USD edged lower and printed fresh daily lows at the beginning of the American session in quiet Monday, with several markets closed, including the US for Memorial Day and the UK for Spring Bank Holiday.

GBP/USD climbed briefly above 1.5500 and printed a daily high of 1.5506 during the European trade, but failed to sustain gains and turned lower. Cable fell to a low of 1.5455 but found support at the 21-day SMA. At time of writing, the pair is trading at 1.5476, virtually unchanged on the day.


GBP/USD levels to watch


As for technical levels, immediate supports are seen at 1.5455 (21-day SMA), 1.5445 (May 19 low) and 1.5392 (May 11 low). On the flip side, resistances could be found at 1.5506 (daily high), 1.5556 (100-hour SMA) and 1.5581 (200-day SMA).