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12 Mar 2015
GBP/USD capped by 1.5000
FXStreet (Mumbai) - GBP/USD remained elevated during the European session, reversing from fresh twenty month lows reach at 1.4892 in the previous session, as the US dollar lost steam against most of its major competitors ahead of US economic releases later in day.
GBP/USD slips from 1.5009 levels
The GBP/USD pair trades higher by 0.33% at 1.4978, hovering close to 1.5000 levels. The cable edged higher as the greenback's dominance across the board waned as traders preferred to remain on side lines ahead of key US data.
The pair may remain pressured in the day ahead as the greenback may regain stronger footing should the retail sales data in the world's largest economy come out in line with market forecasts.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5014 above which gains could be extended to 1.5100 levels. On the flip side, support is seen at 1.4910 below which it could extend losses to 1.4850 levels.
GBP/USD slips from 1.5009 levels
The GBP/USD pair trades higher by 0.33% at 1.4978, hovering close to 1.5000 levels. The cable edged higher as the greenback's dominance across the board waned as traders preferred to remain on side lines ahead of key US data.
The pair may remain pressured in the day ahead as the greenback may regain stronger footing should the retail sales data in the world's largest economy come out in line with market forecasts.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5014 above which gains could be extended to 1.5100 levels. On the flip side, support is seen at 1.4910 below which it could extend losses to 1.4850 levels.