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31 Aug 2015
GBP/USD: Bulls regain control, back near 1.5420
FXStreet (Mumbai) - The British currency is seen picking up pace gradually versus it’s American peer in the European afternoon, as markets moved past the initial risk-off tone and now await fresh updates from the upcoming US session.
GBP/USD bounced-off 1.5395
The GBP/USD pair trades 0.10% higher at 1.5415, heading for a retest of 1.5437 session highs. The GPB/USD pair keep pushing higher, bouncing-off a brief dip to lows below 1.54 handle as a fresh bid wave seems to have caught the British pound amid lack of fresh fundamentals from the GBP calendar as the UK markets remain closed on summer bank holiday.
Moreover, the US dollar remains undermined as falling global equities continue to weigh on the risk sentiment, thereby driving GBP/USD higher.
Meanwhile, markets now await US Chicago PMI data due to be released later in the New York session, which will kick-off a data-heavy US calendar for the week ahead.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5437 (Today’s High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5395 (Today’s Low) below which it could extend losses to 1.5368 (Aug 27 Low) levels.
GBP/USD bounced-off 1.5395
The GBP/USD pair trades 0.10% higher at 1.5415, heading for a retest of 1.5437 session highs. The GPB/USD pair keep pushing higher, bouncing-off a brief dip to lows below 1.54 handle as a fresh bid wave seems to have caught the British pound amid lack of fresh fundamentals from the GBP calendar as the UK markets remain closed on summer bank holiday.
Moreover, the US dollar remains undermined as falling global equities continue to weigh on the risk sentiment, thereby driving GBP/USD higher.
Meanwhile, markets now await US Chicago PMI data due to be released later in the New York session, which will kick-off a data-heavy US calendar for the week ahead.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5437 (Today’s High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5395 (Today’s Low) below which it could extend losses to 1.5368 (Aug 27 Low) levels.