14 Sep 2015
GBP/USD: Bid tone strengthens in early Europe
FXStreet (Mumbai) - The GBP/USD is back near session highs ahead of the European opening bell, although the move lacked a fresh fundamental trigger.
Stuck at 1.5460
The upward momentum in the pair has repeatedly stalled closer to 1.5460, which is the 61.8% retracement of the June rally. The spot was rejected at 1.5460 on Friday and failed to sustain above the same on Thursday.
Ahead in the day, the sentiment in the major European equities could influence the spot. Meanwhile, the movement in the 2-year treasury yield ahead of Thursday’s FOMC would be watched out by traders as well.
GBP/USD Technical Levels
The spot currently trades around 1.5450. The immediate resistance is located at 1.5460 (61.8% of June rally), above which the spot could target 1.55 levels. On the other side, support is seen at 1.54 (Friday’s low) and 1.5347 (200-DMA).
Stuck at 1.5460
The upward momentum in the pair has repeatedly stalled closer to 1.5460, which is the 61.8% retracement of the June rally. The spot was rejected at 1.5460 on Friday and failed to sustain above the same on Thursday.
Ahead in the day, the sentiment in the major European equities could influence the spot. Meanwhile, the movement in the 2-year treasury yield ahead of Thursday’s FOMC would be watched out by traders as well.
GBP/USD Technical Levels
The spot currently trades around 1.5450. The immediate resistance is located at 1.5460 (61.8% of June rally), above which the spot could target 1.55 levels. On the other side, support is seen at 1.54 (Friday’s low) and 1.5347 (200-DMA).