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22 May 2015
GBP/USD hits session low of 1.5495
FXStreet (Mumbai) - The sell-off in the GBP/USD continues, with the pair hovering just above 1.55 levels, after having hit a session low of 1.5495.
GBP/USD: down 180 pips
The pair is now down 180 pips from the daily high of 1.5688. First signs of weakness emerged as the pair neared the previous session’s high of 1.5698. Fresh offers came-in once the pair breached the hourly 200-MA located at 1.5656.
Both the British Pound and the Euro were battered against the USD after the labor department data released today showed the core inflation rose 0.3% year-on-year in April; its fastest rate since Jan 2013.
GBP/USD Technical Levels
The immediate support is seen at 1.5445, followed by the 200-DMA support at 1.5414. On the flip side, a break above 1.5521 (May. 8 high) could drive the pair higher to 1.5576 (5-DMA).
GBP/USD: down 180 pips
The pair is now down 180 pips from the daily high of 1.5688. First signs of weakness emerged as the pair neared the previous session’s high of 1.5698. Fresh offers came-in once the pair breached the hourly 200-MA located at 1.5656.
Both the British Pound and the Euro were battered against the USD after the labor department data released today showed the core inflation rose 0.3% year-on-year in April; its fastest rate since Jan 2013.
GBP/USD Technical Levels
The immediate support is seen at 1.5445, followed by the 200-DMA support at 1.5414. On the flip side, a break above 1.5521 (May. 8 high) could drive the pair higher to 1.5576 (5-DMA).