9 Mar 2015
GBP/USD extends beyond 1.5060
FXStreet (Mumbai) - GBP/USD advanced to fresh session highs in the late Asian session, rebounding sharply from four-week lows reached in previous session after cheerful US non-farm payrolls data which signaled a strong impulse ahead of the next FOMC meeting.
GBP/USD supported above 1.5050
The GBP/USD pair trades higher by 0.31% at 1.5065, hovering close to fresh session highs posted at 1.5069 levels some minutes ago. The cable seems firmly bid ahead of Europe open as traders locked in gains on their short positions after the pair slumped to monthly low in the last North American session.
GBP/USD fell back on 1.50 handle and the pound was heavily sold-off on Friday after the US jobs data surprised on the upside, increasing probability of the word 'patient' being removed from the Federal Reserve's (Fed) vocabulary at its next meeting.
In the day ahead, the pair may halt its upside momentum and edge lower as USD bulls are likely to dominate in absence of significant economic releases.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5069 (Today’s High) above which gains could be extended to 1.5100 levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.
GBP/USD supported above 1.5050
The GBP/USD pair trades higher by 0.31% at 1.5065, hovering close to fresh session highs posted at 1.5069 levels some minutes ago. The cable seems firmly bid ahead of Europe open as traders locked in gains on their short positions after the pair slumped to monthly low in the last North American session.
GBP/USD fell back on 1.50 handle and the pound was heavily sold-off on Friday after the US jobs data surprised on the upside, increasing probability of the word 'patient' being removed from the Federal Reserve's (Fed) vocabulary at its next meeting.
In the day ahead, the pair may halt its upside momentum and edge lower as USD bulls are likely to dominate in absence of significant economic releases.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5069 (Today’s High) above which gains could be extended to 1.5100 levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.