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GBP/USD rejected again at 1.5550

FXStreet (Mumbai) - The GBP/USD pair was offered again at 1.5550 in the US session after having recovered from the European session low of 1.5505 levels.

Trades around 1.5525, awaits US data

The spot is trading largely unchanged on the day around 1.5525 levels ahead of the data in the US, which could show the existing home sales declined 1.3% month-on-month in August. The pair turned lower from the high of 1.5568 seen in the early European session and dropped to 1.5505 before turning higher once again to 1.5550 levels.

The uptick in the US treasury yields and the upbeat action in the stock markets is keeping buying interest high in both USD and GBP, leading to a sideways action ahead of the US opening bell.

GBP/USD Technical Levels

The immediate resistance is located at 1.5568 (daily high), above which gains could be extended to 1.5659 (Friday’s high). On the other side, support is seen at 1.55 and 1.5458 (Aug 10 low).

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