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13 Apr 2015
GBP/USD steadies above 1.46
FXStreet (Mumbai) - The GBP/USD pair trades at 1.4606 ahead of the US session, as the sell-off in the EUR/USD pair helps cable restrict losses around 1.46 levels.
Political uncertainty in Eurozone supports GBP
Possibility of Greek PM securing an increased majority in potential re-elections have brought back fears of ‘Grexit’, pushing the EUR lower across the board. Moreover, a sell-off in the EUR/GBP pair has helped the GBP/USD restrict losses around 1.4571, post which it recovered to trade above 1.4606.
The pair could continue to benefit from the sell-off in the EUR/GBP cross, in case the EUR is offered by the US traders as well.
GBP/USD Technical Levels
The immediate support is seen at 1.4571, under which losses could be test 1.4550. On the flip side, a rise above 1.4660, could push the pair higher to 1.4693 (5-DMA).
Political uncertainty in Eurozone supports GBP
Possibility of Greek PM securing an increased majority in potential re-elections have brought back fears of ‘Grexit’, pushing the EUR lower across the board. Moreover, a sell-off in the EUR/GBP pair has helped the GBP/USD restrict losses around 1.4571, post which it recovered to trade above 1.4606.
The pair could continue to benefit from the sell-off in the EUR/GBP cross, in case the EUR is offered by the US traders as well.
GBP/USD Technical Levels
The immediate support is seen at 1.4571, under which losses could be test 1.4550. On the flip side, a rise above 1.4660, could push the pair higher to 1.4693 (5-DMA).