16 Jan 2015
GBP/USD hovers above 1.5170, in search of fresh incentives
FXStreet (Mumbai) - Cable trades cautious in a very choppy late Asian session, as traders look for fresh cues to gauge further direction in the currency pair.
The GBP/USD pair trades flat at 1.5176 levels, in a tight range locked between 1.5160 – 1.5192 levels. The cable is struggling to find fresh incentives in absence any major data from the UK in the session ahead. However, the pair may turn to a set of crucial economic release in the US session later today for further momentum.
The GBP/USD pair recovered losses from SNB unexpected moves and gained in the last US session responding to the surprising jump in initial jobless claims which the knocked off the US dollar.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5184 (5-DMA) above which gains could be extended to 1.5200 levels. On the flip side, support is seen at 1.5142 (Jan 14 Low), below which it could extend losses to sub 1.51 levels.
The GBP/USD pair trades flat at 1.5176 levels, in a tight range locked between 1.5160 – 1.5192 levels. The cable is struggling to find fresh incentives in absence any major data from the UK in the session ahead. However, the pair may turn to a set of crucial economic release in the US session later today for further momentum.
The GBP/USD pair recovered losses from SNB unexpected moves and gained in the last US session responding to the surprising jump in initial jobless claims which the knocked off the US dollar.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5184 (5-DMA) above which gains could be extended to 1.5200 levels. On the flip side, support is seen at 1.5142 (Jan 14 Low), below which it could extend losses to sub 1.51 levels.