5 Mar 2015
GBP/USD subdued below 1.5250 ahead of BOE
FXStreet (Mumbai) - GBP/USD remains lower in the mid-European session, moving away slightly from fresh monthly lows as upbeat UK quarterly house price growth fails to provide impetus to the pound.
GBP/USD recovers from 1.5225 levels
The GBP/USD pair trades lower by -0.17% at 1.5239, retreating from fresh one-month lows previously posted at 1.5225. The cable remains pressured mainly driven by solid US fundamentals which continue to boost the US dollar.
Moreover, GBP/USD remained unaffected by impressive UK housing price index which increased by 2.6% on quarterly basis - the highest since September 2014.
Meanwhile, traders await BOE policy meeting which is likely to have only have a minor impact on sterling as it's a non-moving event, since the monetary policy is not expected to change.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5266 (Today’s High) above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5200 below which it could extend losses to 1.5161 (Feb 5 Low) levels.
GBP/USD recovers from 1.5225 levels
The GBP/USD pair trades lower by -0.17% at 1.5239, retreating from fresh one-month lows previously posted at 1.5225. The cable remains pressured mainly driven by solid US fundamentals which continue to boost the US dollar.
Moreover, GBP/USD remained unaffected by impressive UK housing price index which increased by 2.6% on quarterly basis - the highest since September 2014.
Meanwhile, traders await BOE policy meeting which is likely to have only have a minor impact on sterling as it's a non-moving event, since the monetary policy is not expected to change.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5266 (Today’s High) above which gains could be extended to 1.5300 levels. On the flip side, support is seen at 1.5200 below which it could extend losses to 1.5161 (Feb 5 Low) levels.