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15 Jan 2015
GBP/USD drops to fresh daily lows; holds above 1.5200
FXStreet (Mumbai) - Cable edged lower in the early European morning, after USD bulls jumped backed in to the bid as US retail scare fades.
The GBP/USD pair trades at fresh daily lows at 1.5207 levels, lower by -0.18% on the day, having previously posted day’s high at 1.5247. The cable gained in the last US session after disappointing retail sales report prompted concerns over the momentum of the world's most important economy. However, the greenback regained its upside momentum against the sterling as markets now shift their attention towards US unemployment claims and manufacturing index numbers due later in the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5247 (Today’s High) above which gains could be extended to 1.5270 (Jan 14 High) 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 at fresh daily lows at 1.5207 levels, lower by -0.18% on the day, having previously posted day’s high at 1.5247. The cable gained in the last US session after disappointing retail sales report prompted concerns over the momentum of the world's most important economy. However, the greenback regained its upside momentum against the sterling as markets now shift their attention towards US unemployment claims and manufacturing index numbers due later in the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5247 (Today’s High) above which gains could be extended to 1.5270 (Jan 14 High) 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.