FXStreet (Mumbai) – The GBP/USD pair is trading moderately lower ahead of the European morning as the risk sentiment took a hit in the Asian session on faltering Greece debt talks.
GBP/USD: Rejected at Key fib levels
The spot clocked a high of 1.5751 but failed to sustain and dropped below 1.5749 (23.6% Fib R of 1.5169-1.5928). The European currencies are struggling as we move into the weekend on renewed fears of Grexit. The Greek debt talks fell apart on Thursday and attention now shifting to a last ditch effort on Saturday before the June 30 deadline.
Apart from the Greece issue, the investors would watch out for BOE governor Mike Carney’s speech due later today. The Euroloand data docket is empty, while the US calendar is thin with only Michigan consumer sentiment scheduled for release.
GBP/USD Technical Levels
The pair currently trades at 1.5734. The immediate resistance is located at 1.5749, above which the pair could target 1.5785 (10-DMA). On the flip side, a break below 1.57 could push the pair down to 1.5675-1.5666.
(Market News Provided by FXstreet)