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22 May 2015
GBP/USD stabilizes around 1.5660, awaits BOE Carney’s speech
FXStreet (Mumbai) - The British pound trades around a flat line against the US dollar in the European session, with GBP/USD supported above 1.5650 as markets await Bank of England’s (BOE) Carney’s speech at the ECB Forum for fresh incentives on the major.
GBP/USD flattish ahead of Central bankers’ speeches
The GBP/USD pair trades flat at 1.5665, oscillating a 20-pips range. The cable keeps the same range as traders remain on the side lines awaiting key speeches by the top central bankers while US CPI figures is also likely to emerge the main market mover later in the day. At the moment markets remain in a wait-and-see mode before the key BOE Carney’s speech to be delivered in an hours’ time.
Meanwhile, the pound also remained unaffected by persistent US dollar softness across the board. The dollar index, which measures the currency's strength against its major peers, fell further into losses and trades at fresh session lows at 94.94, recording a -0.54% loss on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5700 above which gains could be extended to 1.5751 (May 18 High) levels. On the flip side, support is seen at 1.5600 below which it could extend losses to 1.5520 (May 21 Low) levels.
GBP/USD flattish ahead of Central bankers’ speeches
The GBP/USD pair trades flat at 1.5665, oscillating a 20-pips range. The cable keeps the same range as traders remain on the side lines awaiting key speeches by the top central bankers while US CPI figures is also likely to emerge the main market mover later in the day. At the moment markets remain in a wait-and-see mode before the key BOE Carney’s speech to be delivered in an hours’ time.
Meanwhile, the pound also remained unaffected by persistent US dollar softness across the board. The dollar index, which measures the currency's strength against its major peers, fell further into losses and trades at fresh session lows at 94.94, recording a -0.54% loss on the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5700 above which gains could be extended to 1.5751 (May 18 High) levels. On the flip side, support is seen at 1.5600 below which it could extend losses to 1.5520 (May 21 Low) levels.