FXStreet (Mumbai) – The British Pound is being offered in the early European session, taking the GBP/USD pair lower to 1.5528. The pair was rejected earlier today at 1.5564 levels.
Focus on US data
The UK economic calendar offers no first tier data releases today. So the focus remains on the US industrial production data due for release later today. In the meantime, the pair is likely to be influenced by the movement in the EUR/GBP cross amid Greek uncertainty.
The comments from Bundesbank’s Weidmann later today may also influence EUR/GBP and GBP/USD pair. Fresh cues may also come from the UK-US benchmark 10-year bond yield spread.
GBP/USD Technical Levels
The pair currently trades at 1.5536. The immediate resistance is seen at 1.5567, above which the pair could target 1.5620. On the flip side, a break below 1.55 could see the pair fall to 1.5450.
(Market News Provided by FXstreet)