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9 Feb 2015
GBP/USD trades above 5-DMA
FXStreet (Mumbai) - GBP/USD defends mild gains heading towards the European opening bells, recovering
from the US data back losses in the last week.
Slides from 1.5266 levels
The GBP/USD pair trades marginally higher by 0.10% on the day at 1.5257 levels, having previously posted day’s low at 1.5221 levels. GBP/USD remained in green as traders continued to cheer a set of upbeat PMIs, awaiting UK’s manufacturing PMI due tomorrow, in absence of major economic releases for the pair later in the day.
The pound fell to 1.52 handle versus the greenback on Friday after data showed that the US economy added jobs at a solid rate last month, reinforcing expectations that the Federal Reserve will hike interest rates by mid-year.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5274 above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5221 below which it could extend losses to sub 1.5200 levels.
from the US data back losses in the last week.
Slides from 1.5266 levels
The GBP/USD pair trades marginally higher by 0.10% on the day at 1.5257 levels, having previously posted day’s low at 1.5221 levels. GBP/USD remained in green as traders continued to cheer a set of upbeat PMIs, awaiting UK’s manufacturing PMI due tomorrow, in absence of major economic releases for the pair later in the day.
The pound fell to 1.52 handle versus the greenback on Friday after data showed that the US economy added jobs at a solid rate last month, reinforcing expectations that the Federal Reserve will hike interest rates by mid-year.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5274 above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5221 below which it could extend losses to sub 1.5200 levels.