30 Dec 2014
GBP/USD struggles above 1.55 handle
FXStreet (Mumbai) - Cable trades extended losses from the previous session and traded lower heading towards European opening bells, after a gauge of housing industry's health came in below estimates.
The GBP/USD pair trades at 1.5503 levels, down -0.11% on the day, having posted day’s high at 1.5520 levels. The pound remained subdued against the US dollar after Nationwide House Price index declined to 0.2%, against market expectations of 0.3%, which showed bearish investors sentiments. Also, broad based US dollar strength against most of its peers added to the downside in the GBP/USD pair.
Meanwhile, markets will now shift their attention towards US consumer confidence data due for release later in the US trading.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5520 (Today’s high) above which gains could be extended to 1.5566 (Dec 24 High) levels. On the flip side, support is seen at 1.55 levels, below which it could extend losses to 1.5484 (Dec 23 Low) levels.
The GBP/USD pair trades at 1.5503 levels, down -0.11% on the day, having posted day’s high at 1.5520 levels. The pound remained subdued against the US dollar after Nationwide House Price index declined to 0.2%, against market expectations of 0.3%, which showed bearish investors sentiments. Also, broad based US dollar strength against most of its peers added to the downside in the GBP/USD pair.
Meanwhile, markets will now shift their attention towards US consumer confidence data due for release later in the US trading.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5520 (Today’s high) above which gains could be extended to 1.5566 (Dec 24 High) levels. On the flip side, support is seen at 1.55 levels, below which it could extend losses to 1.5484 (Dec 23 Low) levels.