26 May 2015
GBP/USD bounces-off lows, near 1.5420
FXStreet (Mumbai) - The British pound snapped its side trend and dipped to fresh lows against the US dollar in the European morning, with GBP/USD on its way to breach 1.54 handle, largely as the greenback ran through fresh buyers across the board while markets eye US fundamentals amid a data-empty EUR calendar ahead.
GBP/USD drops from 1.5440
The GBP/USD pair trades -0.32% at 1.5420, retreating from fresh two week lows of 1.5406. The cable fell further into losses mainly driven by USD bulls which took further control driving the greenback to fresh one month highs against its major competitors.
Meanwhile, markets now await UK’s CBI realized sales figures, the only data for the GBP traders in the session ahead. While NA Session is likely to bring the main market mover in US durable goods orders later today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5471 (Today’s High) above which gains could be extended to 1.5500 levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5325 (April 29 Low) levels.
GBP/USD drops from 1.5440
The GBP/USD pair trades -0.32% at 1.5420, retreating from fresh two week lows of 1.5406. The cable fell further into losses mainly driven by USD bulls which took further control driving the greenback to fresh one month highs against its major competitors.
Meanwhile, markets now await UK’s CBI realized sales figures, the only data for the GBP traders in the session ahead. While NA Session is likely to bring the main market mover in US durable goods orders later today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5471 (Today’s High) above which gains could be extended to 1.5500 levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5325 (April 29 Low) levels.