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10 Feb 2015
GBP/USD flattish, holds above 1.52
FXStreet (Mumbai) - GBP/USD remained little changed during the mid-European session, reversing gains from the previous session as traders continued to digest mixed UK manufacturing and industrial releases in December.
Falls from 1.5239 levels
The GBP/USD pair trades flat at 1.5215 levels, recovering from day’s low at 1.5197 levels posted after the data release. GBP/USD traded subdued as traders were left unimpressed by the sluggish industrial output data after a series of encouraging data released during the last week.
Meanwhile, the cable makes lower lows on daily charts, which leaves doors open for further swing on the downside, if it fails to sustain above the crucial support of 1.52 levels.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5251 above which gains could be extended to 1.5272 levels. On the flip side, support is seen at 1.5197 below which it could extend losses to sub 1.5161 levels.
Falls from 1.5239 levels
The GBP/USD pair trades flat at 1.5215 levels, recovering from day’s low at 1.5197 levels posted after the data release. GBP/USD traded subdued as traders were left unimpressed by the sluggish industrial output data after a series of encouraging data released during the last week.
Meanwhile, the cable makes lower lows on daily charts, which leaves doors open for further swing on the downside, if it fails to sustain above the crucial support of 1.52 levels.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5251 above which gains could be extended to 1.5272 levels. On the flip side, support is seen at 1.5197 below which it could extend losses to sub 1.5161 levels.