GBP/USD steadies near highs, UK CPI in focus

FXStreet (Mumbai) - GBP/USD steadies in the early European morning, gradually rising from a choppy Asian session as markets now await UK inflation print due for released later in the session.

GBP/USD supported above 1.5350 levels

The GBP/USD pair trades marginally higher by 0.08% at 1.5378 levels, hovering around day’s highs at 1.5382 levels posted earlier in the Asian hours. GBP/USD traded flat in the European morning as expectations of a rate lift-off in BOE’s next meeting following a series of upbeat UK macro data and inflation predictions raised for the medium-term offsets rising concerns over Greek debt resolutions.

GBP/USD pulled away from 7-week peaks and edged lower overnight following the failed attempt by Greece officials and euro zone finance ministers to find some consensus on Greek debt obligations dragged the cable lower on rub-off from EUR/USD.

GBP/USD Levels to consider

The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5425 levels. On the flip side, support is seen at 1.5350 below which it could extend losses to sub 1.5335 levels.