Wednesday, September 23, 2015

GBP/USD trades around 1.53 handle

FXStreet (Mumbai) - The GBP/USD pair is back around 1.53 levels ahead of the US session, but the weak tone surrounding GBP stays intact.

Trades around 1.5305, BOE rate hike delayed?

The spot currently trades around 1.5305. As per Livesquawk report, the BOE first hike was pushed out from 8 months to 13 months since Fed meeting, while the Fed's from 3 to 5 months. Consequently, Sterling has been on a losing streak, shedding more than 300 pips since Friday.

In the US session, the focus is likely to stay on the overall market sentiment. The US economic calendar is empty, while the Sterling traders have to wait till next week for major UK data releases.

GBP/USD Technical Levels

The immediate resistance is located at 1.5340 (200-DMA), above which gains could be extended to 1.54 levels. On the other side, support is seen at 1.5280 (76.4% of 1.5163-1.5659) and 1.52 levels.
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