7 Apr 2015
GBP/USD at session highs
FXStreet (Mumbai) - The offered tone on the USD is on the rise ahead of the European session, which has led the GBP/USD pair to a session high of 1.4914.
GBP/USD: Bounced-off from a key Fibo level
The pair bounced-off from 1.4878, which is the 50% Fib retracement of 1.4633-1.5122 to trade at a high of 1.4914. In the process, the pair has also risen above its 5-DMA located at 1.4892.
Ahead in the session, the UK services PMI and the Bank of England’s financial committee record of march meeting are slated for release. The US session is light, with no major market moving data due for release today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4935, above which gains could be capped at 1.4983. On the flip side, a break below 1.4878 could drive the pair lower to 1.4849 levels.
GBP/USD: Bounced-off from a key Fibo level
The pair bounced-off from 1.4878, which is the 50% Fib retracement of 1.4633-1.5122 to trade at a high of 1.4914. In the process, the pair has also risen above its 5-DMA located at 1.4892.
Ahead in the session, the UK services PMI and the Bank of England’s financial committee record of march meeting are slated for release. The US session is light, with no major market moving data due for release today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4935, above which gains could be capped at 1.4983. On the flip side, a break below 1.4878 could drive the pair lower to 1.4849 levels.