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23 Feb 2015
GBP/USD hits a fresh session low
FXStreet (Mumbai) - GBP/USD extends its downside bias for the fourth straight session and inches towards lows in the European session as weaker UK retail sales numbers released last week continue to weigh on the markets amid lack of fresh triggers.
GBP/USD slips from 1.5395 levels
The GBP/USD pair trades lower by -0.16% at 1.5372 levels, hitting fresh session lows at 1.5367 levels few minutes ago. GBP/USD remains pressured on renewed US dollar strength against its major counterparts as traders prefer to hold the reserve currencies as Greece prepares to submit its reform list confirming the extension deal.
Meanwhile, UK CBI realized sales numbers and US home sales data are likely to be the main drivers for the pair for rest of the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5466 levels. On the flip side, support is seen at 1.5341 below which it could extend losses to 1.5314 levels.
GBP/USD slips from 1.5395 levels
The GBP/USD pair trades lower by -0.16% at 1.5372 levels, hitting fresh session lows at 1.5367 levels few minutes ago. GBP/USD remains pressured on renewed US dollar strength against its major counterparts as traders prefer to hold the reserve currencies as Greece prepares to submit its reform list confirming the extension deal.
Meanwhile, UK CBI realized sales numbers and US home sales data are likely to be the main drivers for the pair for rest of the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5466 levels. On the flip side, support is seen at 1.5341 below which it could extend losses to 1.5314 levels.