8 Jun 2015
GBP/USD hits session low of 1.5230
FXStreet (Mumbai) - The GBP/USD pair ran into offers at the high of 1.5303, post which the pair dropped to a fresh session low of 1.5230.
USD recovers after White House denies commenting on USD
The US dollar recovered lost ground and resumed the uptrend after the White House said President Obama did not state that the strong dollar was a problem. Consequently, the rise from 1.5260 to 1.5303 was quickly undone.
Fresh offers came-in once the pair dipped below 1.5250, thereby pushing the pair to further lows. Moreover, the USD appears to have resumed its post-NFP uptrend after White House’s official denial regarding comments on the USD. Rating agency Moody’s comments on UK’s debt levels could have also weighed over Pound.
GBP/USD Technical Levels
The immediate support is seen at 1.5189 (50% R of 1.4564-1.5813), under which the pair could drop to 1.51 levels. On the other hand, a rise above 1.5250 could see the pair revisit its daily high of 1.5303.
USD recovers after White House denies commenting on USD
The US dollar recovered lost ground and resumed the uptrend after the White House said President Obama did not state that the strong dollar was a problem. Consequently, the rise from 1.5260 to 1.5303 was quickly undone.
Fresh offers came-in once the pair dipped below 1.5250, thereby pushing the pair to further lows. Moreover, the USD appears to have resumed its post-NFP uptrend after White House’s official denial regarding comments on the USD. Rating agency Moody’s comments on UK’s debt levels could have also weighed over Pound.
GBP/USD Technical Levels
The immediate support is seen at 1.5189 (50% R of 1.4564-1.5813), under which the pair could drop to 1.51 levels. On the other hand, a rise above 1.5250 could see the pair revisit its daily high of 1.5303.