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16 Jan 2015
GBP/USD struggles near 1.52 levels
FXStreet (Mumbai) - The GBP/USD pair struggles around 1.52 levels, after having failed to sustain gains above the same in the previous session.
The pair currently trades dead flat around 1.5186 levels. Cable rose above 1.52 levels yesterday, although the pair was rejected once again around 1.5270 levels, due to which the pair once again fell back below 1.52 levels. Moreover, the Pound has been hit by weak inflation figures released earlier this week. The pair was also hit by sharp selling in the GBP/CHF cross witnessed yesterday after the Swiss National Bank surprised markets by pushing interest rates lower to -0.75% as it announced an end to the cap on EUR/CHF exchange rate.
GBP/USD Technical Levels
The immediate resistance is seen at 1.52 levels, above which the pair could re-test 1.5270 levels. On the other hand, a break below 1.5150 shall open doors for a re-test of 1.51 levels.
The pair currently trades dead flat around 1.5186 levels. Cable rose above 1.52 levels yesterday, although the pair was rejected once again around 1.5270 levels, due to which the pair once again fell back below 1.52 levels. Moreover, the Pound has been hit by weak inflation figures released earlier this week. The pair was also hit by sharp selling in the GBP/CHF cross witnessed yesterday after the Swiss National Bank surprised markets by pushing interest rates lower to -0.75% as it announced an end to the cap on EUR/CHF exchange rate.
GBP/USD Technical Levels
The immediate resistance is seen at 1.52 levels, above which the pair could re-test 1.5270 levels. On the other hand, a break below 1.5150 shall open doors for a re-test of 1.51 levels.