Back
5 May 2015
GBP/USD trades flat
FXStreet (Mumbai) - The GBP/USD pair trades flat around 1.5120, awaiting the US services PMI data due for release later today.
Focus on election uncertainty
The 2015 UK election is one of the most unpredictable with two main parties running neck to neck. There is a high possibility of a hung parliament due to which the investors could stay away from the British Pound.
The big week for the British Pound also includes the release of the service sector and composite PMI indices due for release 24 hours before the May. 7 elections.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5136, above which the pair could extend gains to 1.5183 (5-DMA). On the flip side, a break below 1.5087 (100-DMA), under which losses could be extended to 1.5027.
Focus on election uncertainty
The 2015 UK election is one of the most unpredictable with two main parties running neck to neck. There is a high possibility of a hung parliament due to which the investors could stay away from the British Pound.
The big week for the British Pound also includes the release of the service sector and composite PMI indices due for release 24 hours before the May. 7 elections.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5136, above which the pair could extend gains to 1.5183 (5-DMA). On the flip side, a break below 1.5087 (100-DMA), under which losses could be extended to 1.5027.