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11 May 2015
GBP/USD recovers losses
FXStreet (Mumbai) - The GBP/USD ran into fresh bids closer to 1.54 levels, which led to a minor recovery to 1.5425 levels ahead of the Bank of England policy decision.
GBP/USD: Double top at 1.55?
The pair was rejected at 1.55 levels on Friday, its second failure after having faced rejection at 1.5490 on April 30th. The 223K job additions witnessed by the US economy in April were enough to ensure the pair failed to sustain gains above 1.55 levels on Friday.
Meanwhile, the fresh offers came-in earlier today during the Asian session, after the pair got rejected at its 200-DMA at 1.5445. However, the pair bounced-back from the low of 1.5404. The Bank of England is unlikely to provide any surprises today.
GBP/USD Technical Levels
The pair has an immediate support at 1.55, under which losses could be extended to 1.5350. On the flip side, a break above 1.5445 (200-DMA), could push the pair higher to 1.5521.
GBP/USD: Double top at 1.55?
The pair was rejected at 1.55 levels on Friday, its second failure after having faced rejection at 1.5490 on April 30th. The 223K job additions witnessed by the US economy in April were enough to ensure the pair failed to sustain gains above 1.55 levels on Friday.
Meanwhile, the fresh offers came-in earlier today during the Asian session, after the pair got rejected at its 200-DMA at 1.5445. However, the pair bounced-back from the low of 1.5404. The Bank of England is unlikely to provide any surprises today.
GBP/USD Technical Levels
The pair has an immediate support at 1.55, under which losses could be extended to 1.5350. On the flip side, a break above 1.5445 (200-DMA), could push the pair higher to 1.5521.