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14 May 2015
GBP/USD nears 1.58
FXStreet (Mumbai) - The offered tone on the USD persisted right from the start of the European session, taking the GBP/USD to an intraday high of 1.5793.
US data awaited
The investors now await the data in the US, which could show the initial jobless claims in the US rose to 275K compared to the previous week’s figure of 265K. Jobless claims have stayed near 15-year lows for two straight weeks. A similar figure today could put the USD sell trade at the risk.
On the contrary the offers on the USD could get more pronounced in case the jobless claims tick higher than expected.
GBP/USD Technical Levels
The immediate resistance is located at 1.58, above which the next major hurdle is seen at the weekly 50-MA located at 1.5956. On the flip side, a break below 1.57 could see the pair re-test 1.5650 levels.
US data awaited
The investors now await the data in the US, which could show the initial jobless claims in the US rose to 275K compared to the previous week’s figure of 265K. Jobless claims have stayed near 15-year lows for two straight weeks. A similar figure today could put the USD sell trade at the risk.
On the contrary the offers on the USD could get more pronounced in case the jobless claims tick higher than expected.
GBP/USD Technical Levels
The immediate resistance is located at 1.58, above which the next major hurdle is seen at the weekly 50-MA located at 1.5956. On the flip side, a break below 1.57 could see the pair re-test 1.5650 levels.