Forex Marketz Daily Forex News – Fully Markets Update
GBP/USD finds support at 1.5500
FXStreet (Cocoa) – After falling around 170 pips from 1.5670 in the day, GBP/USD found support at the 1.5500 key level as it is attempting a bounce to current 1.5520. The pair is trading under pressure amid USD strength following the upbeat US jobless data.
The US reported its lowest level in initial jobless claims in 4 decades, fueling rumors on a possible Fed hike rate sooner than expected.
Currently, GBP/USD is trading at 1.5519, down 0.60% on the day, having posted a daily high at 1.5673 and low at 1.5501. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD levels
If the pair manages to break below the 1.5500, it will find next supports at 1.5490, 1.5450 and 1.5420. To the upside, resistances are at 1.5530, 1.5560 and 1.5600.
For more information, read our latest forex news.
GBP/USD finds support at 1.5500
Source: FXStreet
