25 Jun 2015
GBP/USD: back below 1.57
FXStreet (Mumbai) - The GBP/USD pair is back below 1.57 after having faced rejection at a high of 1.5721 earlier today.
Supported by losses in EUR/GBP
The pair remains well supported by its 50-week MA located at 1.5694 mainly due to the losses in the EUR/GBP pair. The Greek impasse and the fresh news regarding Greece facing a take it or leave it deal has triggered selling the EUR/GBP pair. Consequently, the cable has been able to hold above 1.5694 levels.
It remains to be seen if the pair sustains above the key support ahead in the day. Further moves in the pair also depend on the US personal spending and income report and weekly jobless claims report due later today.
GBP/USD Technical Levels
The immediate support is seen at 1.5694 (weekly 50-MA), under which the pair could drop to 1.5637 (38.2% Fib R of 1.5169-1.5928). On the flip side, a break above 1.5721 could see the pair target 1.5749 (23.6% Fib R of 1.5169-1.5928).
Supported by losses in EUR/GBP
The pair remains well supported by its 50-week MA located at 1.5694 mainly due to the losses in the EUR/GBP pair. The Greek impasse and the fresh news regarding Greece facing a take it or leave it deal has triggered selling the EUR/GBP pair. Consequently, the cable has been able to hold above 1.5694 levels.
It remains to be seen if the pair sustains above the key support ahead in the day. Further moves in the pair also depend on the US personal spending and income report and weekly jobless claims report due later today.
GBP/USD Technical Levels
The immediate support is seen at 1.5694 (weekly 50-MA), under which the pair could drop to 1.5637 (38.2% Fib R of 1.5169-1.5928). On the flip side, a break above 1.5721 could see the pair target 1.5749 (23.6% Fib R of 1.5169-1.5928).