11 Feb 2015
GBP/USD hovers above 5-DMA
FXStreet (Mumbai) - GBP/USD erased previous gains and edged lower in the early European morning, as the USD bulls are likely to take lead as traders now turn their attention towards Greece.
Falls from 1.5268 levels
The GBP/USD pair trades flat at 1.5243 levels, recovering from day’s low at 1.5238 levels posted an hour ago. GBP/USD turned in red, although supported above 1.52 threshold, in a no-data day as main focus remains on Greece talks at the Euro group meetings later in the day for further impact on the pair. Moreover, traders now await BOE’s inflation report and a batch of US macro releases due tomorrow in absence of major data today.
Meanwhile, cable remained resilient in the US last session, despite solid US jobs report and disappointing factory data from the UK.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5272 above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5225 below which it could extend losses to sub 1.5200 levels.
Falls from 1.5268 levels
The GBP/USD pair trades flat at 1.5243 levels, recovering from day’s low at 1.5238 levels posted an hour ago. GBP/USD turned in red, although supported above 1.52 threshold, in a no-data day as main focus remains on Greece talks at the Euro group meetings later in the day for further impact on the pair. Moreover, traders now await BOE’s inflation report and a batch of US macro releases due tomorrow in absence of major data today.
Meanwhile, cable remained resilient in the US last session, despite solid US jobs report and disappointing factory data from the UK.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5272 above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5225 below which it could extend losses to sub 1.5200 levels.