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9 Jan 2015
GBP/USD breaks above 1.51 handle
FXStreet (Mumbai) - Cable traded steady, recovering from fresh eighteen-month lows reached at 1.5032 levels in the previous session, as traders digest yesterday’s Bank of England’s policy decision which failed to deliver any surprise on the upside.
The GBP/USD pair traded unchanged at 1.5101 levels, close to intraday high of 1.5105 levels hit few minutes ago. The cable traded cautiously ahead of UK’s manufacturing production numbers and the crucial US NFP data which may have major impacts on the currency pair.
The GBP/USD pair remains pressured as the BoE left both the rate and the volume of asset purchases unchanged again in January amid signs the economy has been slowing again.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5117 (Today’s High) above which gains could be extended to 1.5156 (Jan 7 High) levels. On the flip side, support is seen at 1.5053, below which it could extend losses to 1.50 levels.
The GBP/USD pair traded unchanged at 1.5101 levels, close to intraday high of 1.5105 levels hit few minutes ago. The cable traded cautiously ahead of UK’s manufacturing production numbers and the crucial US NFP data which may have major impacts on the currency pair.
The GBP/USD pair remains pressured as the BoE left both the rate and the volume of asset purchases unchanged again in January amid signs the economy has been slowing again.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5117 (Today’s High) above which gains could be extended to 1.5156 (Jan 7 High) levels. On the flip side, support is seen at 1.5053, below which it could extend losses to 1.50 levels.