19 Jun 2015
GBP/USD hits session low of 1.5834, trades below weekly 200-MA
FXStreet (Mumbai) - The GBP/USD pair extended the slide to hit a session low of 1.5834 as the US dollar continues to receive safe haven bids amid Greek issue.
Back below weekly 200-MA
The spot now trades well below its weekly 200-MA located at 1.5877 levels. The US dollar began its recovery in the North American session yesterday after Eurogroup talks failed to reach a deal with Greece.
The safe haven demand for treasuries amid Greek issue is likely to ensure the USD remains well supported ahead in the day. Still, a weekly gain for the GBP/USD pair is more or less confirmed.
GBP/USD Technical Levels
The immediate support is seen at 1.5795, under which the pair could target 1.5740. On the flip side, a break below 1.5876 could see the pair re-test 1.59 levels.
Back below weekly 200-MA
The spot now trades well below its weekly 200-MA located at 1.5877 levels. The US dollar began its recovery in the North American session yesterday after Eurogroup talks failed to reach a deal with Greece.
The safe haven demand for treasuries amid Greek issue is likely to ensure the USD remains well supported ahead in the day. Still, a weekly gain for the GBP/USD pair is more or less confirmed.
GBP/USD Technical Levels
The immediate support is seen at 1.5795, under which the pair could target 1.5740. On the flip side, a break below 1.5876 could see the pair re-test 1.59 levels.