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8 Jan 2015
GBP/USD trades below 1.51 handle, eyes BOE policy decision
FXStreet (Mumbai) - Cable edged lower heading towards the European opening bells, pulling away from fresh 18-month lows reached at 1.5053 levels in the previous session, on broad based US dollar strength.
The GBP/USD pair traded at 1.5090 levels, down -0.15%, having posted intraday low at 1.5083 and day’s high at 1.5117 levels. The pound remains pressured against the US dollar ahead of Bank of England’s (BOE) monetary policy decision, expecting the BOE may leave its policy unchanged at the start of 2015 in the face of a bleak picture of UK’s growth prospects.
Moreover, traders may also turn their attention towards US jobs data due for release tomorrow which may provide fresh directions on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5117 (Today’s High) above which gains could be extended to 1.5156 (Jan 7 High) levels. On the flip side, support is seen at 1.5053, below which it could extend losses to 1.50 levels.
The GBP/USD pair traded at 1.5090 levels, down -0.15%, having posted intraday low at 1.5083 and day’s high at 1.5117 levels. The pound remains pressured against the US dollar ahead of Bank of England’s (BOE) monetary policy decision, expecting the BOE may leave its policy unchanged at the start of 2015 in the face of a bleak picture of UK’s growth prospects.
Moreover, traders may also turn their attention towards US jobs data due for release tomorrow which may provide fresh directions on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5117 (Today’s High) above which gains could be extended to 1.5156 (Jan 7 High) levels. On the flip side, support is seen at 1.5053, below which it could extend losses to 1.50 levels.