FXStreet (Mumbai) - Sterling bears have loosened their grip on the GBP/USD pair in Asia today, paving the way for a correction to 1.5265 levels.
First gain in five days
The spot is trading higher for the first time in five days. The UK economic calendar is empty, consequently, the focus in the European session is likely to be on the overall market sentiment. Ahead in the US session, the durable goods orders figure and Fed’s Yellen speech could influence the pair.
At the moment, the sentiment appears weak as indicated by the drop in the AUD/JPY pair and a drop in the US index futures, treasury yields.
GBP/USD Technical Levels
At 1.5258, the immediate resistance is located at 1.53, above which the spot could test its 200-DMA at 1.5337. On the other side, support is seen at 1.5220 (previous day’s low) and 1.5163 (Sep 4 low).
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