6 Mar 2015
GBP/USD trades at 50-DMA
FXStreet (Mumbai) - The GBP/USD pair trades at 50-DMA located at 1.5240, after having managed to recover above the same from the low of 1.5213 in the previous session. With no major data due out of the UK, the pair is likely to trade in line with overall market sentiment ahead of the US monthly jobs report.
GBP/USD: Gains capped at Fibo level
The pair struggled to rise above 1.5250 earlier today, which is the 50% Fib retracement level of the up trend from 1.4949-1.5550. On the other hand, losses are being capped around the 50-DMA located at 1.5240. The pair could see some volatility at the European opening bell. The activity in the Gilt yields would provide fresh cues to the pair.
However, not much action is expected ahead of the February Non-farm payrolls report in the US due later today.
GBP/USD Technical Levels
The immediate support is seen at 1.5210, under which the pair could drop to 1.5178. On the flip side, resistance is seen at 1.5250 and 1.5321 (38.2% Fib retracement level).
GBP/USD: Gains capped at Fibo level
The pair struggled to rise above 1.5250 earlier today, which is the 50% Fib retracement level of the up trend from 1.4949-1.5550. On the other hand, losses are being capped around the 50-DMA located at 1.5240. The pair could see some volatility at the European opening bell. The activity in the Gilt yields would provide fresh cues to the pair.
However, not much action is expected ahead of the February Non-farm payrolls report in the US due later today.
GBP/USD Technical Levels
The immediate support is seen at 1.5210, under which the pair could drop to 1.5178. On the flip side, resistance is seen at 1.5250 and 1.5321 (38.2% Fib retracement level).