Friday, October 2, 2015

GBP/USD clings to daily gains

FXStreet (Córdoba) - GBP/USD rose to fresh daily highs during the New York session, as the dollar weakened following softer-than-expected ISM manufacturing data, but found support and retreated somewhat.

GBP/USD managed to recover from a 5-month low of 1.5106 struck earlier on the day and climbed to a peak of 1.5179 before finding resistance. However, the pullback was contained by the 1.5145 area. At time of writing, the pair is trading at 1.5155, still 0.20% above its opening price.

All eyes now turn to the US nonfarm payrolls report due on Friday for catalysts to drive FX market.

GBP/USD key levels

As for technical levels, next resistances are seen at 1.5179 (Oct 1 high), 1.5213 (Sep 30 high) and 1.5240 (Sep 28 high). On the downside, immediate supports could be found at 1.5106 (5-month low Oct 1), 1.5088 (May 5 low) and 1.5026 (Apr 24 low).
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