15 Jun 2015
GBP/USD drops to fresh session low of 1.55
FXStreet (Mumbai) - The offered tone on the British Pound continued to strengthen in the European session, thereby pushing the GBP/USD pair to a fresh session low of 1.55.
Drops below key Fib levels
The pair now trades below 1.5519, which is the 23.6% Fib retracement of 1.4564-1.5813 levels. The pair was rejected earlier today at a high of 1.5564, post which a steady stream of offers ensured the pair breached a key supports at 1.555, 1.5537 levels.
Ahead in the day, the pair could be influenced by the action in the EUR/GBP cross. The conclusion of the emergency meeting in Greece may create fresh volatility in the EUR/GBP pair and the GBP/USD pair.
GBP/USD Technical Levels
The immediate support is located at 1.5471 (hourly 100-MA), under which the pair could extend the drop to 1.5395 (hourly 200-MA). On the flip side, a break above 1.5519 could see the target 1.5566 levels.
Drops below key Fib levels
The pair now trades below 1.5519, which is the 23.6% Fib retracement of 1.4564-1.5813 levels. The pair was rejected earlier today at a high of 1.5564, post which a steady stream of offers ensured the pair breached a key supports at 1.555, 1.5537 levels.
Ahead in the day, the pair could be influenced by the action in the EUR/GBP cross. The conclusion of the emergency meeting in Greece may create fresh volatility in the EUR/GBP pair and the GBP/USD pair.
GBP/USD Technical Levels
The immediate support is located at 1.5471 (hourly 100-MA), under which the pair could extend the drop to 1.5395 (hourly 200-MA). On the flip side, a break above 1.5519 could see the target 1.5566 levels.