The GBP/USD pair spiked up to 1.5825 fresh 11-day high early European opening, but failed to sustain its gains, extending now below critical 1.5770 static support zone. With no local data, the Pound is being weight by weak EZ readings, favoring a mild dollar recovery against most rivals. The US markets will be closed today on Thanksgiving, and will close earlier on Friday anticipating thin movements and limited volume once Europe closes today.
Technically speaking, the pair is completing a pullback to the top of the range broken yesterday around 1.5740, level that stands as immediate short term support: break below it should lead to a continued slide towards the 1.5690 price zone. A recovery above 1.5770 and some steady consolidation above the level on the other hand, should deny chances of an intraday decline and favor a retest of the 1.5800/20 price zone.
View Live Chart for GBP/USD
Technically speaking, the pair is completing a pullback to the top of the range broken yesterday around 1.5740, level that stands as immediate short term support: break below it should lead to a continued slide towards the 1.5690 price zone. A recovery above 1.5770 and some steady consolidation above the level on the other hand, should deny chances of an intraday decline and favor a retest of the 1.5800/20 price zone.
View Live Chart for GBP/USD
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