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5 Feb 2015
GBP/USD hits session highs above 1.53 levels
FXStreet (Mumbai) - The GBP/USD pair rose to 1.5315 levels following a data in the US, which showed the US Trade deficit in January rose to largest since 2012, while the initial jobless claims in the last week rose less-than-expected.
GBP/USD trades at 4-week high
The pair currently trades at a four-week high of 1.53. The British Pound extended post Bank of England (BOE) meeting gains after the data in the US showed the trade deficit jumped 17.1% to USD 46.6 billion, the largest since November 2012. It has been the biggest percentage increase since July 2009. Meanwhile, the markets ignored a slower rise in the weekly jobless claims.
The pair saw strength going into the US session after the Bank of England left the interest rates and QE unchanged as expected.
GBP/USD Technical Levels
The pair now trades 0.82% higher at 1.5304. The immediate resistance is seen at 1.5331 (50-DMA), above which gains could be extended to 1.54 levels. Meanwhile, support is seen at 1.5265 and 1.5222 levels.
GBP/USD trades at 4-week high
The pair currently trades at a four-week high of 1.53. The British Pound extended post Bank of England (BOE) meeting gains after the data in the US showed the trade deficit jumped 17.1% to USD 46.6 billion, the largest since November 2012. It has been the biggest percentage increase since July 2009. Meanwhile, the markets ignored a slower rise in the weekly jobless claims.
The pair saw strength going into the US session after the Bank of England left the interest rates and QE unchanged as expected.
GBP/USD Technical Levels
The pair now trades 0.82% higher at 1.5304. The immediate resistance is seen at 1.5331 (50-DMA), above which gains could be extended to 1.54 levels. Meanwhile, support is seen at 1.5265 and 1.5222 levels.