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15 May 2015
GBP/USD off-highs near 1.5775
FXStreet (Mumbai) - GBP/USD continues to swing between gains and losses in a calm European trading, with the pound retreating from session highs and trades muted awaiting fresh incentives amid broad US dollar strength.
GBP/USD flattish below 1.58
The GBP/USD pair trades modestly flat at 1.5773, easing off fresh session highs reached t 1.5784 in last hours. The cable wiped out gains and trades direction less amid lack of fresh triggers in absence of significant macro data to be released during the European session.
The major erased gains and backed-off highs largely on a minor rebound seen in the greenback against its major competitors. The dollar index, which measures the currency's strength against its major peers, drifts away from fresh three month lows and now trades at 93.55, up 0.15% on the day.
Meanwhile, markets eagerly await US industrial production, manufacturing index and consumers’ sentiment data due later in the American session, in absence of economic data during the European session, for further momentum.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5800 above which gains could be extended to 1.5828 (Nov 17 High) levels. On the flip side, support is seen at 1.5750 below which it could extend losses to 1.5726 (May 14 Low) levels.
GBP/USD flattish below 1.58
The GBP/USD pair trades modestly flat at 1.5773, easing off fresh session highs reached t 1.5784 in last hours. The cable wiped out gains and trades direction less amid lack of fresh triggers in absence of significant macro data to be released during the European session.
The major erased gains and backed-off highs largely on a minor rebound seen in the greenback against its major competitors. The dollar index, which measures the currency's strength against its major peers, drifts away from fresh three month lows and now trades at 93.55, up 0.15% on the day.
Meanwhile, markets eagerly await US industrial production, manufacturing index and consumers’ sentiment data due later in the American session, in absence of economic data during the European session, for further momentum.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5800 above which gains could be extended to 1.5828 (Nov 17 High) levels. On the flip side, support is seen at 1.5750 below which it could extend losses to 1.5726 (May 14 Low) levels.