19 Dec 2014
GBP/USD steadies ahead of European session
FXStreet (Mumbai) - The British pound eased slightly against the US dollar, trading in a narrow range in the mid-Asian hours, erasing gains seen in the previous session.
The GBP/USD pair trades at 1.5656 levels, down -0.10%, on the day after posting day’s high at 1.5669 levels some hours ago. GBP/USD erased gains from the previous session after better than forecast retail sales data boosted the cable taking the pair to fresh daily highs. The pair retreated today as the dollar index regained strength versus six major currencies and trades close to five year high levels at 89.51, up 0.06 % on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5681 (200-day SMA) above which gains could be extended to 1.57 levels. On the flip side, support is seen at 1.5624 (Dec 9 Low), below which it could extend losses to 1.5608 (Dec 16 Low) levels
The GBP/USD pair trades at 1.5656 levels, down -0.10%, on the day after posting day’s high at 1.5669 levels some hours ago. GBP/USD erased gains from the previous session after better than forecast retail sales data boosted the cable taking the pair to fresh daily highs. The pair retreated today as the dollar index regained strength versus six major currencies and trades close to five year high levels at 89.51, up 0.06 % on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5681 (200-day SMA) above which gains could be extended to 1.57 levels. On the flip side, support is seen at 1.5624 (Dec 9 Low), below which it could extend losses to 1.5608 (Dec 16 Low) levels