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GBP/USD revisits daily highs after US data

FXStreet (Mumbai) - The bid tone on the British Pound improved in the early US session, pushing the GBP/USD pair back to its daily highs after the data in the US showed jobless claims rose more than expected last week.

Struggling to sustain above 1.5150

The pair strengthened from 1.5126 to trade within a touching distance from the daily high at 1.5156 after the initial jobless claims in the US rose by 10K to 277K. However, sterling is once again having a hard time extending gains over and above 1.5150 levels.

The spot now trades around its hourly 50-MA currently located at 1.5146 levels. The investors now await the US ISM and Markit manufacturing reports and Fed’s Williams speech.

GBP/USD Technical Levels

The immediate resistance is located at 1.5166 (hourly 100-MA), above which the pair is likely to test 1.52 levels. On the other side, support is seen at 1.5088 (May 2015 low), under which the spot could target 1.50 levels.

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