13 Aug 2015
GBP/USD peeks into the green near 1.5625
FXStreet (Mumbai) - The British pound keeps its range play intact, although edges slightly higher in the mid-European session, lifting GBP/USD once again for a test of key barrier near 1.5635 levels.
GBP/USD: downside capped at 1.5607 lows
The GBP/USD pair trades 0.10% higher at 1.5629, inching higher towards session highs located at 1.5636. The cable witnessed a fresh bid wave as the GBP bulls try hard to surpass the session highs which could open doors for further upside towards previous highs.
However, every attempt to the upside is restricted on the back of broad-based US dollar strength as Sept Fed rate lift-off is back in play. The US dollar index, a virtual gauge of greenback’s strength, now trades 0.34% higher at 96.60.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5661 (Aug 12 High) above which gains could be extended to 1.5692 (July 29 High) levels. On the flip side, support is seen at 1.5607 (Today’s Low) below which it could extend losses to 1.5586 (July 29 Low) levels.
GBP/USD: downside capped at 1.5607 lows
The GBP/USD pair trades 0.10% higher at 1.5629, inching higher towards session highs located at 1.5636. The cable witnessed a fresh bid wave as the GBP bulls try hard to surpass the session highs which could open doors for further upside towards previous highs.
However, every attempt to the upside is restricted on the back of broad-based US dollar strength as Sept Fed rate lift-off is back in play. The US dollar index, a virtual gauge of greenback’s strength, now trades 0.34% higher at 96.60.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5661 (Aug 12 High) above which gains could be extended to 1.5692 (July 29 High) levels. On the flip side, support is seen at 1.5607 (Today’s Low) below which it could extend losses to 1.5586 (July 29 Low) levels.