8 Jun 2015
GBP/USD recovers to 1.5250
FXStreet (Mumbai) - Fresh bids at the session low of 1.5221 helped the GBP/USD pair recover part of its losses to trade at 1.5250 levels.
USD under pressure
The US dollar is being sold against most of the major currencies as we head towards the US session, which does not offer any major US first tier economic data releases. The pair has managed to take back its losses despite the 1.6 basis points fall seen in the UK 10-year Gilt yield.
Moreover, the EUR/USD pair is guiding the moves in the FX markets in the absence of a major market moving data. The rise in the EUR against the USD has helped most other currencies strengthen/recover losses against the USD.
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 under pressure
The US dollar is being sold against most of the major currencies as we head towards the US session, which does not offer any major US first tier economic data releases. The pair has managed to take back its losses despite the 1.6 basis points fall seen in the UK 10-year Gilt yield.
Moreover, the EUR/USD pair is guiding the moves in the FX markets in the absence of a major market moving data. The rise in the EUR against the USD has helped most other currencies strengthen/recover losses against the USD.
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.