19 Feb 2015
GBP/USD back and forth above 1.5400
FXStreet (Córdoba) - GBP/USD has stabilized in the lower 1.54’s area after oscillating in without clear short-term direction for most of the session.
GBP/USD failed to sustain gains above the 1.5450 area and pulled back, but with the downside contained by the 1.5400 level, the pair was confined to a sideways phase during the New York session amid mixed US data.
The EU/Greek situation continues to drive markets’ sentiment these days, with economic data having short-lived impact on FX pairs. Nevertheless, tomorrow’s UK retail sales data could act as a catalyst for the pound.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.5400 (psychological level), 1.5340 (Feb 18 low) and 1.5315 (Feb 17 low). On the other hand, resistances could be found at 1.5464 (daily high), 1.5479 (Feb 18 high) and 1.5500 (psychological level).
GBP/USD failed to sustain gains above the 1.5450 area and pulled back, but with the downside contained by the 1.5400 level, the pair was confined to a sideways phase during the New York session amid mixed US data.
The EU/Greek situation continues to drive markets’ sentiment these days, with economic data having short-lived impact on FX pairs. Nevertheless, tomorrow’s UK retail sales data could act as a catalyst for the pound.
GBP/USD levels to watch
As for technical levels, immediate supports are seen at 1.5400 (psychological level), 1.5340 (Feb 18 low) and 1.5315 (Feb 17 low). On the other hand, resistances could be found at 1.5464 (daily high), 1.5479 (Feb 18 high) and 1.5500 (psychological level).