7 Sep 2015
GBP/USD regains 1.5200 amid a data-empty EUR calendar
FXStreet (Mumbai) - The British pound continues to trade around a flat line versus the US dollar in the European trades, with GBP/USD now hovering around 1.52 handle.
GBP/USD rises despite stronger USD
The GBP/USD pair trades 0.20% higher at 1.5201, bouncing-off lows reached at 1.5172 during late Asian session. The cable is seen posting moderate gains in the early trades and now retests 1.52 barrier, despite a broadly strong US dollar as generalized risk-on market profile appears to extend on rebounding European stocks.
The pound is boosted by some fresh bids versus the US dollar amid low volumes and calmer European session ahead with absolutely no economic releases from the Eurozone and the UK to keep traders busy.
Markets now turn their attention towards the latter half of the week especially the ‘Super Thursday’ for further cues on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5275 (Sept 4 High) above which gains could be extended to 1.5315 (Sept 3 High) levels. On the flip side, support is seen at 1.5172 (Today’s Low) below which it could extend losses to 1.5160 (Sept 4 Low) levels.
GBP/USD rises despite stronger USD
The GBP/USD pair trades 0.20% higher at 1.5201, bouncing-off lows reached at 1.5172 during late Asian session. The cable is seen posting moderate gains in the early trades and now retests 1.52 barrier, despite a broadly strong US dollar as generalized risk-on market profile appears to extend on rebounding European stocks.
The pound is boosted by some fresh bids versus the US dollar amid low volumes and calmer European session ahead with absolutely no economic releases from the Eurozone and the UK to keep traders busy.
Markets now turn their attention towards the latter half of the week especially the ‘Super Thursday’ for further cues on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5275 (Sept 4 High) above which gains could be extended to 1.5315 (Sept 3 High) levels. On the flip side, support is seen at 1.5172 (Today’s Low) below which it could extend losses to 1.5160 (Sept 4 Low) levels.