FXStreet (Mumbai) – A sudden rally in GBP/USD lost steam near the 200-DMA upside barrier with the major retracing slightly, as markets continue to digest the latest news from global central banks.
GBP/USD hovers around 50-DMA
The GBP/USD pair trades 0.15% higher at 1.5333, having found good support ahead of 1.53 barrier. The major met fresh supply near 1.5345 region, where the crucial 200-DMA lies and edged slightly lower as the US dollar halted its renewed sell-off against its major peers and reverted to familiar ranges near 97 handle.
Moreover, the cable remains unperturbed by BOE Governor Mark Carney’s comments over the weekend and continues its recovery ahead of datasets from the UK docket – mortgage approvals and CBI industrial orders expectations.
In an interview to the Mail on Sunday, Mr. Carney told that the Bank was “focussed” on “raising interest rates,” however; rate rises were a “possibility not a certainty.”
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5348 (200-DMA) above which gains could be extended to 1.5401 (round number + 10-DMA). On the flip side, support is seen at 1.5307 (daily S1 + daily lows) below which it could extend losses to 1.5250 (psychological levels).
(Market News Provided by FXstreet)