11 Jun 2015
GBP/USD trades below 1.55
FXStreet (Mumbai) - The GBP/USD pair is trading in the narrow band of 1.5480-1.55, after having faced rejection earlier today at 1.5530 levels.
Focus on US data
After posting gains for three consecutive sessions, the pair is having a breather ahead of the critical US data - weekly jobless claims and monthly advance retail sales. A better than expected UK industrial production and fall in trade deficit helped the pair post gains in the previous two sessions.
Meanwhile, the cable could also be influenced by the market’s appetite for the US dollars, mainly influenced by the activity in German bond markets and EUR/USD pair.
GBP/USD Technical Levels
The immediate support is seen at 1.5439, under which the pair could target 1.5353 (200-DMA). On the flip side, a break above 1.55 could see the pair re-test 1.5551 levels.
Focus on US data
After posting gains for three consecutive sessions, the pair is having a breather ahead of the critical US data - weekly jobless claims and monthly advance retail sales. A better than expected UK industrial production and fall in trade deficit helped the pair post gains in the previous two sessions.
Meanwhile, the cable could also be influenced by the market’s appetite for the US dollars, mainly influenced by the activity in German bond markets and EUR/USD pair.
GBP/USD Technical Levels
The immediate support is seen at 1.5439, under which the pair could target 1.5353 (200-DMA). On the flip side, a break above 1.55 could see the pair re-test 1.5551 levels.