29 Jan 2015
GBP/USD steadies above 1.5100, US data eyed
FXStreet (Mumbai) - GBP/USD holds mild gains during the European session, witnessing a see-saw movement as traders digest the UK house prices data and await US unemployment claims data later in the day.
Cable trades below 20-DMA
The GBP/USD pair traded slightly lower at 1.5124 levels, down 0.09% on the day, consolidating between 1.5100-1.5200 price band. The pound witnessed mild losses versus the greenback after rising a bit on bullish UK house prices report which showed that y/y UK house prices rose 6.8% in January, exceeding expectations for an increase of 6.6%, after a 7.2% gain the previous month. The pair is likely to remain supported so long it hold above the 5-DMA located at 1.5107 levels.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5224. On the flip side, support is seen at 1.5107 (5-DMA) below which it could extend losses to sub 1.5093 (10-DMA) levels.
Cable trades below 20-DMA
The GBP/USD pair traded slightly lower at 1.5124 levels, down 0.09% on the day, consolidating between 1.5100-1.5200 price band. The pound witnessed mild losses versus the greenback after rising a bit on bullish UK house prices report which showed that y/y UK house prices rose 6.8% in January, exceeding expectations for an increase of 6.6%, after a 7.2% gain the previous month. The pair is likely to remain supported so long it hold above the 5-DMA located at 1.5107 levels.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5224. On the flip side, support is seen at 1.5107 (5-DMA) below which it could extend losses to sub 1.5093 (10-DMA) levels.