26 Jun 2015
GBP/USD bounces-off 1.5720
FXStreet (Mumbai) - GBP/USD rebounded sharply from session lows and trims losses in the European session, largely on the back of broad based US dollar retreat, while the gains may remain capped as risk-off sentiment prevails on Grexit fears.
GBP/USD pressured amid Greek uncertainty
The GBP/USD pair trades -0.10% lower at 1.5742, recovering from fresh session lows reached at 1.5720 last hours. The cable regained lost ground somewhat and erased most losses as the halted its rebound and turned flat against its major peers.
The dollar index which measures the greenback’s strength against its major peers, now trades flat at 95.38, retracing from 95.52 highs.
Later in the day, the cable will track US dollar moves amid lack of UK fundamentals while BOE Carney’s speech will be closely eyed.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5800 above which gains could be extended to 1.5833 (June 23 High) levels. On the flip side, support is seen at 1.5720 (Today’s Low) below which it could extend losses to 1.5674 (June 25 Low) levels.
GBP/USD pressured amid Greek uncertainty
The GBP/USD pair trades -0.10% lower at 1.5742, recovering from fresh session lows reached at 1.5720 last hours. The cable regained lost ground somewhat and erased most losses as the halted its rebound and turned flat against its major peers.
The dollar index which measures the greenback’s strength against its major peers, now trades flat at 95.38, retracing from 95.52 highs.
Later in the day, the cable will track US dollar moves amid lack of UK fundamentals while BOE Carney’s speech will be closely eyed.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5800 above which gains could be extended to 1.5833 (June 23 High) levels. On the flip side, support is seen at 1.5720 (Today’s Low) below which it could extend losses to 1.5674 (June 25 Low) levels.