8 May 2015
GBP/USD trades below 1.55
FXStreet (Mumbai) - The GBP/USD trades below 1.55 levels, although buying interest around around 1.5420 made sure the losses were restricted, ensuring the pair recovered back to 1.5480 levels.
Offers around 1.5520
The pair ran into offers around 1.5520 levels earlier today. The pair gained sharply as the election results pointed to a dramatic Conservative victory. However, the pair pared gains to trade below 1.55 as support for its coalition partner has collapsed. The Lib Dems are projected to lose 47 out of their 57 seats.
At the moment, the pair is trading at 1.5490, up 1.61% for the day. Ahead in the session, UK trade balance figures and US Non-farm Payrolls will be the main highlights for the pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5520, above which gains could be extended to 1.5570. On the flip side, a beak below 1.5454, under which losses could be extended to 1.54.
Offers around 1.5520
The pair ran into offers around 1.5520 levels earlier today. The pair gained sharply as the election results pointed to a dramatic Conservative victory. However, the pair pared gains to trade below 1.55 as support for its coalition partner has collapsed. The Lib Dems are projected to lose 47 out of their 57 seats.
At the moment, the pair is trading at 1.5490, up 1.61% for the day. Ahead in the session, UK trade balance figures and US Non-farm Payrolls will be the main highlights for the pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5520, above which gains could be extended to 1.5570. On the flip side, a beak below 1.5454, under which losses could be extended to 1.54.