22 Dec 2014
GBP/USD steadies above 1.56 handle
FXStreet (Mumbai) - The British pound traded modestly higher against the US dollar in the Asian trading, locked in a narrow range between 1.5620-1.5650 levels.
The GBP/USD pair trades now at 1.5644 levels, up 0.10%, compared to previous session close of 1.5602 levels. GBP/USD recovered from ten-day lows hit during the last week and trades higher as the US dollar reversed gains from the previous session and slipped against most of the major currencies. Over the whole week, sterling shed around 0.50% from its last week's closing price of 1.5720, and finished at 1.5632 on Friday.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5680 (Dec 18 High) above which gains could be extended to 1.5743 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 now at 1.5644 levels, up 0.10%, compared to previous session close of 1.5602 levels. GBP/USD recovered from ten-day lows hit during the last week and trades higher as the US dollar reversed gains from the previous session and slipped against most of the major currencies. Over the whole week, sterling shed around 0.50% from its last week's closing price of 1.5720, and finished at 1.5632 on Friday.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5680 (Dec 18 High) above which gains could be extended to 1.5743 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