FXStreet (Mumbai) – The GBP/USD pair is trading steady in the band of 1.55-1.5525 levels in the Asian session amid the lack of fresh fundamental data releases out of the UK.
Gains capped by upbeat US data
The gains in the British Pound are being capped due to the upbeat US macro data released in the previous session. The advance retail sales increased for the third consecutive month, while the weekly jobless claims remained below 300K for the 14th consecutive week.
With UK calendar offering no major data releases today, the focus is likely to be on the market’s appetite for the US dollars.
GBP/USD Technical Levels
The pair currently trades at 1.5509. The immediate support is seen at 1.55, under which the pair could target 1.5439 (June. 4 high). On the flip side, a break above 1.5525 could see the pair rise to 1.5567.
(Market News Provided by FXstreet)