13 May 2015
GBP/USD extends losses ahead of US data
FXStreet (Mumbai) - The British Pound is being offered at the onset of the US session, taking the GBP/USD pair lower to 1.5640-1.5630 band ahead of the data in the US, which could show retail sales growth slowed down in April.
GBP/USD: Will it fall below 1.56?
The British Pound is being offered across the board after the BOE’s quarterly inflation report released today carried a slightly less hawkish tone than expected. Consequently, the GBP/USD pair dropped from a high of 1.5745 to 1.5640.
The losses could be extended well below 1.56 in case, the advance retail sales in the US print higher than the expectation of 0.2%. On the contrary, a weak print could help GBP/USD take back part of its losses.
GBP/USD Technical Levels
The immediate support is seen at 1.56, under which the pair could drop to 1.550 levels. On the flip side, a break above 1.5661 could see the pair re-test 1.57 levels.
GBP/USD: Will it fall below 1.56?
The British Pound is being offered across the board after the BOE’s quarterly inflation report released today carried a slightly less hawkish tone than expected. Consequently, the GBP/USD pair dropped from a high of 1.5745 to 1.5640.
The losses could be extended well below 1.56 in case, the advance retail sales in the US print higher than the expectation of 0.2%. On the contrary, a weak print could help GBP/USD take back part of its losses.
GBP/USD Technical Levels
The immediate support is seen at 1.56, under which the pair could drop to 1.550 levels. On the flip side, a break above 1.5661 could see the pair re-test 1.57 levels.