FXStreet (Mumbai) – The GBP/USD pair ran into offers at 1.5340 in the Asian session, which stalled the upward momentum and pushed the pair slightly lower to 1.5326 levels.
GBP/USD: Back below 1.5330-1.5336
The pair failed to hold on above the key technical levels at 1.5330-1.5336. It is worth noting that the pair was heavily offered in the previous session after it broke below 1.5330. With no major market moving data due out of the UK today, the investors are likely to remain focused on the second estimate of the US Q1 GDP due for release in the US session.
In the meantime, the pair could be influenced by the market’s appetite for the US dollars as we move towards the US GDP release, which is expected to be revised lower to -0.9%.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5336, above which gains could be extended to 1.5393 (200-MA). On the flip side, a break below 1.53 could see the pair re-test 1.5260 levels.
(Market News Provided by FXstreet)