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GBP/USD holding at 1.5200

FXstreet.com (Barcelona) - The GBP/USD was trading in the heights of 1.5241 (session high) earlier today during European trading, before waning back towards the 1.5200 level following the release of data in the UK.

In the United Kingdom, Consumer Credit (April) came in at £0.524B, against expectations of £0.4B. In addition, Mortgage Approvals were reported at 53.71K in April, vs. estimates of 54.5K.

In recent moments, the pair has settled at 1.5200/02, incurring a loss of -0.18% thus far. Mataf.net technical analysts take note of the next short-term supports for the GBP/USD at 1.5142, 1.5061, and 1.5012. Conversely, the pair is set to face calculated resistance at 1.5272, ahead of 1.5321, and ultimately 1.5402.

According to the Technical Analyst Team at ICN.com, “The GBP/USD touched 38.2% correction at 1.5235 yesterday after consolidating above 1.5150 represented in 23.6% correction. Some volatility is possible due to overbought signals shown on the stochastic, as trading above 1.5150 is now positive.”

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