GBP/USD attempts to consolidate above 1.4700

Ani Salama FXStreet

GBP/USD consolidates daily gains above 1.4700 during the American session, despite a sharp turnaround seen in other major pairs over the last minutes.

GBP/USD reached its highest level in 3 weeks at 1.4728 before losing steam and settling near highs. At time of writing, the pair is trading at 1.4710, recording a 0.35% advance on Wednesday.

Latest IG/Survation Brexit poll results underpinned the pound as it showed the remain was ahead with 44%, against 38% to leave and 18% undecided.

GBP/USD technical levels

As for technical levels, next resistances could be found at 1.4768 (May 3 high), 1.4783 (200-day SMA) and 1.4800 (psychological level). On the other hand, supports are seen at 1.4600 (psychological level/May 25 low), 1.4517 (21-day SMA) and 1.4472 (May 24 low).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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