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GBP/USD off highs, re-visits 1.5150

FXStreet (Edinburgh) - The sterling is now giving away part of the initial gains vs. the dollar, sending GBP/USD back to the 1.5150/45 band.

GBP/USD well supported around 1.5100

The pair is looking to stabilize the drop from September peaks in the boundaries of the 1.5700 handle, finding some sort of comfort zone in the low-1.5100s so far.

The re-emergence of the bearish tone around GBP follows the adjustment by market participants to a rate hike by the ‘Old Lady’ later than initially anticipated (May 2016?), mainly after the recent poor Payrolls results in the US economy, which could delay further a Fed’s lift-off.

GBP/USD significant levels

As of writing the pair is up 0.01% at 1.5148 with the next resistance at 1.5244 (high Oct.5) followed by 1.5261 (high Sep.25) and finally 1.5364 (high Sep.23). On the flipside, a break below 1.5137 (low Oct.2) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5).

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