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25 May 2015
GBP/USD flirting with 1.5500
FXStreet (Edinburgh) - The pound is following the broader flat sentiment on Monday, taking GBP/USD to the vicinity of 1.5500 the figure.
GBP/USD consolidating around 1.5500
The pair is looking to stabilize the drop from last week’s peaks around the 1.5700 handle, in response to a re-emergence of the US dollar after positive CPI releases. The inactivity in the UK markets following the bank holiday will leave the pair’s price action to the mercy of the risk appetite trends, in a context where low volatility is set to prevail.
A fairly light calendar ahead in the week for GBP traders, with the only release of note being the preliminary results from the GDP during the first quarter, due on Friday.
GBP/USD relevant levels
As of writing the pair is advancing 0.04% at 1.15496 with the next hurdle at 1.5503 (high May 25) ahead of 1.5691 (high May 22) and then 1.5700 (psychological level). On the flip side, a breakdown of 1.5459 (low May 25) would open the door to 1.5447 (low May 19) and then 1.5393 (low May 11).
GBP/USD consolidating around 1.5500
The pair is looking to stabilize the drop from last week’s peaks around the 1.5700 handle, in response to a re-emergence of the US dollar after positive CPI releases. The inactivity in the UK markets following the bank holiday will leave the pair’s price action to the mercy of the risk appetite trends, in a context where low volatility is set to prevail.
A fairly light calendar ahead in the week for GBP traders, with the only release of note being the preliminary results from the GDP during the first quarter, due on Friday.
GBP/USD relevant levels
As of writing the pair is advancing 0.04% at 1.15496 with the next hurdle at 1.5503 (high May 25) ahead of 1.5691 (high May 22) and then 1.5700 (psychological level). On the flip side, a breakdown of 1.5459 (low May 25) would open the door to 1.5447 (low May 19) and then 1.5393 (low May 11).