13 Jul 2015
GBP/USD witnesses cross driven strength
FXStreet (Mumbai) - The sell-off in the EUR/GBP cross post Greek deal helped the GBP/USD pair sustain above 1.55 levels.
Cable hovers around hourly 200-MA
The spot currently trades around the hourly 200-MA located at 1.5523. The pair clocked a high of 1.5552 after the Greek deal, before falling back to trade around its hourly 200-MA. The sell-off in the EUR/GBP pair; down 0.74% at 0.7136; ensured the spot remained above 1.55 levels.
Moreover, the common currency and other funding currencies/safe haven currencies are being ditched across the board. Ahead in the day, the movement in the EUR/GBP could continue to influence the cable, given the empty Euroland and US data calendar.
GBP/USD Technical Levels
The immediate support is seen at 1.55, under which the pair could target 1.5460 (61.8% Fib R of June rally). On the other hand, a break above 1.5523 (hourly 200-MA) could see the pair rise to 1.5510 (50% Fib R of June rally).
Cable hovers around hourly 200-MA
The spot currently trades around the hourly 200-MA located at 1.5523. The pair clocked a high of 1.5552 after the Greek deal, before falling back to trade around its hourly 200-MA. The sell-off in the EUR/GBP pair; down 0.74% at 0.7136; ensured the spot remained above 1.55 levels.
Moreover, the common currency and other funding currencies/safe haven currencies are being ditched across the board. Ahead in the day, the movement in the EUR/GBP could continue to influence the cable, given the empty Euroland and US data calendar.
GBP/USD Technical Levels
The immediate support is seen at 1.55, under which the pair could target 1.5460 (61.8% Fib R of June rally). On the other hand, a break above 1.5523 (hourly 200-MA) could see the pair rise to 1.5510 (50% Fib R of June rally).