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11 Mar 2015
GBP/USD flattish below 1.5100, UK data eyed
FXStreet (Mumbai) - GBP/USD bounced-off lows and defends mild gains in the European morning as the greenback eased from its fresh multi-year peak. While traders now focus on the crucial UK manufacturing sector data due later in the session.
GBP/USD rises from 1.5063 levels
The GBP/USD pair trades flat at 1.5078, having attempted a bounce towards 1.51 handle. The cable lost steadies, extending gradually to 1.51 mark as the US dollar gave back gains and traded muted versus all of its major peers.
Meanwhile, traders await important macro data, UK industrial and manufacturing numbers for January due later today which may have further impacts on the major.
Industrial production data is seen as improving 0.2% m/m, compared to -0.2% in December. Manufacturing output numbers are expected to expand 0.2% on m/m in January, from 0.1% growth in December.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5100 above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.
GBP/USD rises from 1.5063 levels
The GBP/USD pair trades flat at 1.5078, having attempted a bounce towards 1.51 handle. The cable lost steadies, extending gradually to 1.51 mark as the US dollar gave back gains and traded muted versus all of its major peers.
Meanwhile, traders await important macro data, UK industrial and manufacturing numbers for January due later today which may have further impacts on the major.
Industrial production data is seen as improving 0.2% m/m, compared to -0.2% in December. Manufacturing output numbers are expected to expand 0.2% on m/m in January, from 0.1% growth in December.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5100 above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.