19 Jan 2015
GBP/USD gets rejected at 5-DMA
FXStreet (Mumbai) - Cable gave away previous gains and trades modestly flat in the mid-European session, as traders now turn their attention to the latest Bank of England minutes as well as the latest unemployment and wages data due out on Wednesday.
The GBP/USD pair traded unchanged at 1.5159 levels, retreating from day’s high at 0.5178 levels hit earlier in the session. The cable is expected to trade mixed today, swinging between gains and losses in absence of major macro data for the pair and as US markets remain closed in observance of Martin Luther King Day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5173 (5-DMA) above which gains could be extended to 1.5200 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 traded unchanged at 1.5159 levels, retreating from day’s high at 0.5178 levels hit earlier in the session. The cable is expected to trade mixed today, swinging between gains and losses in absence of major macro data for the pair and as US markets remain closed in observance of Martin Luther King Day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5173 (5-DMA) above which gains could be extended to 1.5200 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.