12 Jan 2015
GBP/USD consolidates above 20-DMA
FXStreet (Mumbai) - Cable steadies heading towards the European opening bells, consolidating above 1.5160 levels as markets await fresh cues in a data-light session ahead.
The GBP/USD pair trades flat at 1.5168 levels, having posting day’s low at 1.5160 and day’s high at 1.5190 levels. The cable remains buoyed on the back of a weaker greenback against other major currencies.
Moreover, the pair is expected to trade choppy ahead of Britain’s CPI report due for release tomorrow with markets expecting the rate of UK consumer price inflation to have dived further in December.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5170 above which gains could be extended to 1.52 levels. On the flip side, support is seen at 1.5139 (Jan 6 Low), below which it could extend losses to 1.5074 (Jan 9 Low) levels.
The GBP/USD pair trades flat at 1.5168 levels, having posting day’s low at 1.5160 and day’s high at 1.5190 levels. The cable remains buoyed on the back of a weaker greenback against other major currencies.
Moreover, the pair is expected to trade choppy ahead of Britain’s CPI report due for release tomorrow with markets expecting the rate of UK consumer price inflation to have dived further in December.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5170 above which gains could be extended to 1.52 levels. On the flip side, support is seen at 1.5139 (Jan 6 Low), below which it could extend losses to 1.5074 (Jan 9 Low) levels.