7 Apr 2015
GBP/USD off lows near 1.4880
FXStreet (Mumbai) - GBP/USD trades muted during the European session, unable to find strong support in UK services PMI, while sterling remains unperturbed by strong broad based USD rally.
GBP/USD rebounds from 1.4830
The GBP/USD pair trades flat at 1.4880, recovering losses witnessed after positive UK PMI data. The cable stands resilient below 1.49 barrier despite heavy gains seen in the US dollar versus its major peers as the USD bulls jump back into bids following last week’s slump.
GBP/USD treads water and may remain confined between 1.4800 – 1.4950 range ahead of Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4900 above which gains could be extended to 1.4922 (Today’s High) levels. On the flip side, support is seen at 1.4830 (Today’s Low) levels below which it could extend losses to 1.4800 levels.
GBP/USD rebounds from 1.4830
The GBP/USD pair trades flat at 1.4880, recovering losses witnessed after positive UK PMI data. The cable stands resilient below 1.49 barrier despite heavy gains seen in the US dollar versus its major peers as the USD bulls jump back into bids following last week’s slump.
GBP/USD treads water and may remain confined between 1.4800 – 1.4950 range ahead of Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4900 above which gains could be extended to 1.4922 (Today’s High) levels. On the flip side, support is seen at 1.4830 (Today’s Low) levels below which it could extend losses to 1.4800 levels.