10 Jul 2015
GBP/USD deflates from 1.5550
FXStreet (Edinburgh) - The pound is shedding part of its earlier gains vs. the US dollar and is now pushing GBP/USD to the 1.5510/00 band.
GBP/USD keeps looking to Greece
The pair has been following the broader risk-on mood in the global markets since the Greek government submitted the long-waited fresh proposals to its EU peers last night. Spot has advanced more than a big-figure since session lows near 1.5380 during the Asian session to the 1.550 area, or 3-day peaks posted during the European morning.
Markets have now turned their focus on tomorrow’s critical Eurogroup meeting, ahead of the EU Leaders Summit on Sunday, which might be unnecessary in case a deal is reached before.
GBP/USD levels to consider
As of writing the pair is advancing 0.76% at 1.5498 with the next hurdle at 1.5553 (high Jul.10) ahead of 1.5600 (psychological handle) and finally 1.5628 (high Jul.6). On the other hand, a break below 1.5364 (low Jul.10) would aim for 1.5330 (low Jul.8) and then 1.5221 (low Jun.8).
GBP/USD keeps looking to Greece
The pair has been following the broader risk-on mood in the global markets since the Greek government submitted the long-waited fresh proposals to its EU peers last night. Spot has advanced more than a big-figure since session lows near 1.5380 during the Asian session to the 1.550 area, or 3-day peaks posted during the European morning.
Markets have now turned their focus on tomorrow’s critical Eurogroup meeting, ahead of the EU Leaders Summit on Sunday, which might be unnecessary in case a deal is reached before.
GBP/USD levels to consider
As of writing the pair is advancing 0.76% at 1.5498 with the next hurdle at 1.5553 (high Jul.10) ahead of 1.5600 (psychological handle) and finally 1.5628 (high Jul.6). On the other hand, a break below 1.5364 (low Jul.10) would aim for 1.5330 (low Jul.8) and then 1.5221 (low Jun.8).