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5 Jan 2015
GBP/USD back above 1.53 levels
FXStreet (Mumbai) - The GBP/USD pair has recovered losses to trade above 1.53 levels, as the 10-yr yield in the US weakened while the 10-year Gilt yield in the UK strengthened at the onset of the European session.
The cable pair now trades 0.11% lower at 1.5310 levels, after having hit a low of 1.5274 earlier today. The Pound received support as the 10-yr Gilt yield in the UK rose 1.5 basis points to 1.734%, while its US counterpart weakened 1.2 basis points to 2.111%. On technical grounds too, the oversold nature of the daily and the hourly RSI has favored a correction in the GBP/USD pair.
GBP/USD Technical Levels
The pair has an immediate resistance located at 1.5326, above which the pair could test 1.54 levels. On the other hand, a break below 1.5274, shall open doors for a re-test of 1.5170 levels.
The cable pair now trades 0.11% lower at 1.5310 levels, after having hit a low of 1.5274 earlier today. The Pound received support as the 10-yr Gilt yield in the UK rose 1.5 basis points to 1.734%, while its US counterpart weakened 1.2 basis points to 2.111%. On technical grounds too, the oversold nature of the daily and the hourly RSI has favored a correction in the GBP/USD pair.
GBP/USD Technical Levels
The pair has an immediate resistance located at 1.5326, above which the pair could test 1.54 levels. On the other hand, a break below 1.5274, shall open doors for a re-test of 1.5170 levels.