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4 May 2015
GBP/USD resilient near 1.5150
FXStreet (Mumbai) - The British pound recovered from lows and turned in the positive territory against the US dollar in the European session, with GBP/USD standing resilient despite the strong rebound seen in the US dollar, continuing its upsurge from the previous session.
GBP/USD rises from 1.5125
The GBP/USD pair trades flat at 1.5145, trading directionless amid low volumes as UK remains closed on account of May Day. The cable trades muted finding for fresh direction, ignoring the fresh buying witnessed in the US dollar as markets continue to cheer the recent fresh US data flow bringing back June rate-hike bets on the table.
Meanwhile, the dollar index which measures the relative strength of the greenback against the basket of six major currencies, trades at fresh session highs near 95.65, up 0.28% on the day.
Markets now turn their attention towards tomorrow’s UK Construction PMI and Thursday’s Services PMI for fresh incentives on the major. While UK elections on May 7 remains in the spotlight.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5157 (Today’s High) above which gains could be extended to 1.5200 levels. On the flip side, support is seen at 1.5112 (May 1 Low) below which it could extend losses to 1.5100 levels.
GBP/USD rises from 1.5125
The GBP/USD pair trades flat at 1.5145, trading directionless amid low volumes as UK remains closed on account of May Day. The cable trades muted finding for fresh direction, ignoring the fresh buying witnessed in the US dollar as markets continue to cheer the recent fresh US data flow bringing back June rate-hike bets on the table.
Meanwhile, the dollar index which measures the relative strength of the greenback against the basket of six major currencies, trades at fresh session highs near 95.65, up 0.28% on the day.
Markets now turn their attention towards tomorrow’s UK Construction PMI and Thursday’s Services PMI for fresh incentives on the major. While UK elections on May 7 remains in the spotlight.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5157 (Today’s High) above which gains could be extended to 1.5200 levels. On the flip side, support is seen at 1.5112 (May 1 Low) below which it could extend losses to 1.5100 levels.