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28 Jan 2015
GBP/USD climbs to fresh session highs, breaks above 1.5200
FXStreet (Mumbai) - GBP/USD edged higher in the mid-European session, breaking away from the consolidation channel seen in the previous session as markets brace for the upcoming Fed’s decision.
The GBP/USD pair traded at 1.5204 levels, marginally higher by 0.08% on the day, close to fresh daily highs posted at 1.5209 few minutes ago. The pound is seen higher versus the greenback as market remains jittery ahead of FOMC statement, with expectations of Fed echoing the patient approach towards the timing of the rate-hike.
Moreover, the pair is expected to witness major volatility in the day ahead as the USD continues to waver in huge swings.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5224 above which gains could be extended to 1.5270 On the flip side, support is seen at 1.5155 below which it could extend losses to sub 1.5130 levels.
The GBP/USD pair traded at 1.5204 levels, marginally higher by 0.08% on the day, close to fresh daily highs posted at 1.5209 few minutes ago. The pound is seen higher versus the greenback as market remains jittery ahead of FOMC statement, with expectations of Fed echoing the patient approach towards the timing of the rate-hike.
Moreover, the pair is expected to witness major volatility in the day ahead as the USD continues to waver in huge swings.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5224 above which gains could be extended to 1.5270 On the flip side, support is seen at 1.5155 below which it could extend losses to sub 1.5130 levels.