22 Jan 2015
GBP/USD holds above 1.5100, eyes ECB
FXStreet (Mumbai) - Cable erased previous gains and remained subdued in the late-Asian session, resuming its side trend as traders await ECB meeting for any rub-off on the sterling.
The GBP/USD pair traded flat at 1.5133 levels, trading in a tight range between 1.5131-1.5159 levels. GBP/USD is expected to remain subdued amid lack of fresh incentives for the pair, after gaining slightly in the previous session on mixed US housing data.
Meanwhile, market now shifts their attention towards the ECB meeting for any surprise which may impact the GBP/USD pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5179 (Jan 21 High) above which gains could be extended to 1.5200. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5074 (Jan 21 Low) levels.
The GBP/USD pair traded flat at 1.5133 levels, trading in a tight range between 1.5131-1.5159 levels. GBP/USD is expected to remain subdued amid lack of fresh incentives for the pair, after gaining slightly in the previous session on mixed US housing data.
Meanwhile, market now shifts their attention towards the ECB meeting for any surprise which may impact the GBP/USD pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5179 (Jan 21 High) above which gains could be extended to 1.5200. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5074 (Jan 21 Low) levels.