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21 May 2015
GBP/USD falls into losses
FXStreet (Mumbai) - The British Pound is being offered in the early European session, taking the GBP/USD pair lower to 1.5525 levels.
GBP/USD: Stuck between key Fib levels
The pair is stuck between key Fib levels; with gains being capped closer 1.5568 (38.2% Fib of 1.7190-1.4564) in the Asian session. Meanwhile, the pair is inching closer to 1.5519 (23.6% Fib of 1.4564-1.5813). The pair made repeated attempts to sustain above 1.5550, although offers made sure it dipped to 1.5525 levels.
Ahead in the day, the UK retail sales figure for April is likely to become the main driving force behind the GBP/USD pair. Further triggers are seen in the US session – weekly claims, existing home sales, and regional manufacturing indices.
GBP/USD Technical Levels
The immediate support is seen at 1.5518, under which losses could be extended to 1.5445. On the flip side, a break above 1.5568 could drive the pair higher to 1.56 levels.
GBP/USD: Stuck between key Fib levels
The pair is stuck between key Fib levels; with gains being capped closer 1.5568 (38.2% Fib of 1.7190-1.4564) in the Asian session. Meanwhile, the pair is inching closer to 1.5519 (23.6% Fib of 1.4564-1.5813). The pair made repeated attempts to sustain above 1.5550, although offers made sure it dipped to 1.5525 levels.
Ahead in the day, the UK retail sales figure for April is likely to become the main driving force behind the GBP/USD pair. Further triggers are seen in the US session – weekly claims, existing home sales, and regional manufacturing indices.
GBP/USD Technical Levels
The immediate support is seen at 1.5518, under which losses could be extended to 1.5445. On the flip side, a break above 1.5568 could drive the pair higher to 1.56 levels.