21 Jan 2015
GBP/USD regains 1.5100
FXStreet (Mumbai) - Sterling remained in red versus the US dollar during the mid-European session, however, retreated from the post-BOE minutes slump and trades back above 1.5100 levels.
The GBP/USD pair traded at 1.5119 levels, down -0.18% on the day, moving away slightly from fresh session lows at 1.5076 levels posted after release of dovish BoE minutes. GBP/USD is seen recouping partial losses as traders digest the outcome of the minutes which indicated that the central bank might not raise rates this year. Moreover, traders also continue to cheer the UK’s employment and wages data which showed an improvement in the country’s labour market conditions.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5236 levels. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5053 (Jan 7 Low) levels.
The GBP/USD pair traded at 1.5119 levels, down -0.18% on the day, moving away slightly from fresh session lows at 1.5076 levels posted after release of dovish BoE minutes. GBP/USD is seen recouping partial losses as traders digest the outcome of the minutes which indicated that the central bank might not raise rates this year. Moreover, traders also continue to cheer the UK’s employment and wages data which showed an improvement in the country’s labour market conditions.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5236 levels. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5053 (Jan 7 Low) levels.