Back
29 Dec 2014
GBP/USD trades near Technical Resistance
FXStreet (Mumbai) - The cable is trading near the critical resistance located at 1.5585 on the daily chart after having bounced-off from the 5-DMA located at 1.5582 levels.
The GBP/USD pair currently trades 0.15% higher at 1.5584 levels, compared to the previous session’s close at 1.5553 levels. The US dollar has eased slightly, tracking slight weakness in the US treasury yields. The pair may extend gains further if the UK equity markets rise. No major data is due out of UK today, hence the movement in the pair is likely to be chart driven.
GBP/USD Technical Levels
The pair has an immediate resistance at 1.5585, followed by 1.5595 (10-DMA). On the other hand, support is seen at 1.5580 and 1.5547 levels.
The GBP/USD pair currently trades 0.15% higher at 1.5584 levels, compared to the previous session’s close at 1.5553 levels. The US dollar has eased slightly, tracking slight weakness in the US treasury yields. The pair may extend gains further if the UK equity markets rise. No major data is due out of UK today, hence the movement in the pair is likely to be chart driven.
GBP/USD Technical Levels
The pair has an immediate resistance at 1.5585, followed by 1.5595 (10-DMA). On the other hand, support is seen at 1.5580 and 1.5547 levels.