Forex: GBP/USD trades flat above 1.5100

After being rejected by the 1.5200 area, GBP/USD retraced intraday gains and even printed a fresh low of 1.5093, weighed by better-than expected US services-sector ISM. Being unable to define a fresh direction, GBP/USD was confined to a consolidation phase that has extended over the last hours.

At time of writing, GBP/USD is trading at the 1.5115 zone, virtually unchanged since opening. As for technical levels, if the cross manages to overcome the 1.5195/1.5200 area, next resistances are seen at 1.5220 (high Feb 28) and 1.5300 (psychological level). On the other hand, supports could be faced at 1.5105 (intraday low), 1.5050 and 1.5000.