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22 Jun 2015
GBP/USD struggles to recover after US data
FXStreet (Mumbai) - The GBP/USD pair is struggling to recover above 1.5830 after the release of a weaker-than-expected regional manufacturing index in the US.
Cable suffers due to rise in EUR/GBP cross
The pair could not witness a significant recovery on a weak US Chicao Fed National Activity index (Actual -0.7, previous revised lower to -0.19) mainly on account of a bearish GBP tone in the EUR/GBP cross. The EUR/GBP cross ticked higher on increased hopes of a Greek deal after positive developments over the weekend.
Ahead in the day, the pair could be influenced by the US housing data, and the outcome of the emergency EU summit and Eurogroup meeting.
GBP/USD Technical Levels
The pair currently trades at 1.5821. The immediate support is seen at 1.5792, under which the pair could find support at 1.5720 (10-DMA). On the flip side, a break above 1.5876 could see the pair 1.5941.
Cable suffers due to rise in EUR/GBP cross
The pair could not witness a significant recovery on a weak US Chicao Fed National Activity index (Actual -0.7, previous revised lower to -0.19) mainly on account of a bearish GBP tone in the EUR/GBP cross. The EUR/GBP cross ticked higher on increased hopes of a Greek deal after positive developments over the weekend.
Ahead in the day, the pair could be influenced by the US housing data, and the outcome of the emergency EU summit and Eurogroup meeting.
GBP/USD Technical Levels
The pair currently trades at 1.5821. The immediate support is seen at 1.5792, under which the pair could find support at 1.5720 (10-DMA). On the flip side, a break above 1.5876 could see the pair 1.5941.