10 Mar 2015
GBP/USD steadies below 1.5100
FXStreet (Mumbai) - GBP/USD slipped below 1.51 threshold in the Asian trading and remained subdued as traders booked profit on their GBP long positions after the recent solid recovery from five-week lows.
GBP/USD capped by 5-DMA
The GBP/USD pair trades lower by -0.29% at 1.5083, moving away from fresh session lows previously posted at 1.5070. The cable pared gains from the last North American session and edged lower largely on a profit taking slide.
Additionally, GBP/USD fell back on 1.50 handle as the pound was heavily sold-off after the USD bulls jumped back in the bids and printed fresh twelve year high versus its major counterparts on renewed expectations of an earlier rate lift-off.
In the day ahead, the pair may remain lower as USD bulls are likely to dominate in absence of significant economic releases.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5110 (5-DMA) above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.
GBP/USD capped by 5-DMA
The GBP/USD pair trades lower by -0.29% at 1.5083, moving away from fresh session lows previously posted at 1.5070. The cable pared gains from the last North American session and edged lower largely on a profit taking slide.
Additionally, GBP/USD fell back on 1.50 handle as the pound was heavily sold-off after the USD bulls jumped back in the bids and printed fresh twelve year high versus its major counterparts on renewed expectations of an earlier rate lift-off.
In the day ahead, the pair may remain lower as USD bulls are likely to dominate in absence of significant economic releases.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5110 (5-DMA) above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.