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15 Jan 2015
GBP/USD hovers above 1.5200
FXStreet (Mumbai) - Cable continues to trade lower in the mid-European session, as traders await fresh incentives in absence of any data from the UK for rest of the session.
The GBP/USD pair trades at 1.5210 levels, lower by -0.15% on the day, having previously posted a new day’s low at 1.5201, a whisker away from 1.5200 levels. The cable is expected to remain pressured as traders now focus on the upcoming US initial jobless claims and manufacturing surveys to receive fresh cues for the cable. Moreover, US CPI figures due for release tomorrow will remain a deciding factor for further momentum on the pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5247 (Today’s High) above which gains could be extended to 1.5270 (Jan 14 High) levels. On the flip side, support is seen at 1.5142 (Jan 14 Low), below which it could extend losses to sub 1.51 levels.
The GBP/USD pair trades at 1.5210 levels, lower by -0.15% on the day, having previously posted a new day’s low at 1.5201, a whisker away from 1.5200 levels. The cable is expected to remain pressured as traders now focus on the upcoming US initial jobless claims and manufacturing surveys to receive fresh cues for the cable. Moreover, US CPI figures due for release tomorrow will remain a deciding factor for further momentum on the pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5247 (Today’s High) above which gains could be extended to 1.5270 (Jan 14 High) levels. On the flip side, support is seen at 1.5142 (Jan 14 Low), below which it could extend losses to sub 1.51 levels.