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28 Jan 2015
GBP/USD rejected at 1.52
FXStreet (Mumbai) - The GBP/USD pair has suffered losses after having failed yet another time to rise above 1.52 levels.
Gains repeatedly capped at 1.52
The pair has been repeatedly restricted around 1.52 levels on closing basis since Jan. 12th. The pair did manage to end at 1.5234 once, although the gains were immediately erased the very next day. A similar move has been witnessed today as the pair clocked a high of 1.5198 levels before moving lower to 1.5155 levels.
Going forward, the pair is likely to remain volatile around 1.52 levels as markets await the FOMC decision. No major surprises are likely to come through from the Federal Reserve, although rising treasury yields ahead of the event shall keep USD strong.
GBP/USD Technical Levels
The pair currently trades 1.5188 levels. The immediate resistance is seen at 1.52 levels, above which another stiff resistance is seen at 1.5234 levels. Meanwhile, support is seen at 1.5153 and 1.5118 (hourly 50-SMA) levels.
Gains repeatedly capped at 1.52
The pair has been repeatedly restricted around 1.52 levels on closing basis since Jan. 12th. The pair did manage to end at 1.5234 once, although the gains were immediately erased the very next day. A similar move has been witnessed today as the pair clocked a high of 1.5198 levels before moving lower to 1.5155 levels.
Going forward, the pair is likely to remain volatile around 1.52 levels as markets await the FOMC decision. No major surprises are likely to come through from the Federal Reserve, although rising treasury yields ahead of the event shall keep USD strong.
GBP/USD Technical Levels
The pair currently trades 1.5188 levels. The immediate resistance is seen at 1.52 levels, above which another stiff resistance is seen at 1.5234 levels. Meanwhile, support is seen at 1.5153 and 1.5118 (hourly 50-SMA) levels.