9 Mar 2015
GBP/USD accelerates towards 1.5100; Outlook deteriorated
FXStreet (Tokyo) - The sterling is trading in recovery mode against the US dollar as the GBP/USD is extending its bounce from Friday low of 1.5020 to trade now just ahead of 1.5100.
Currently, GBP/USD is trading at 1.5094, up 0.29% on the day, having posted a daily high at 1.5098 and low at 1.5032. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
GBP/USD forecast
According to Market Analyst at Hantec Markets Richard Perry, the GBP/USD "outlook has dramatically deteriorated in the past week;" Perry is now "negative on Cable for a retest of $1.5000."
In the same line, FOREX.com Neal Gilbert comments that "the negative vibe out of mainland Europe is hurting the GBP," However, he thinks that "good UK data could help stop the bleeding."
British Pound to US Dollar exchange rate levels
There are reports of an option expiry for GBP£259 million at 1.5250 in the NY cut. Meanwhile, check resistances at 1.5100, 1.5120 and 1.5150. To the downside, supports are at 1.5050, 1.5020 and 1.5000
Currently, GBP/USD is trading at 1.5094, up 0.29% on the day, having posted a daily high at 1.5098 and low at 1.5032. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
GBP/USD forecast
According to Market Analyst at Hantec Markets Richard Perry, the GBP/USD "outlook has dramatically deteriorated in the past week;" Perry is now "negative on Cable for a retest of $1.5000."
In the same line, FOREX.com Neal Gilbert comments that "the negative vibe out of mainland Europe is hurting the GBP," However, he thinks that "good UK data could help stop the bleeding."
British Pound to US Dollar exchange rate levels
There are reports of an option expiry for GBP£259 million at 1.5250 in the NY cut. Meanwhile, check resistances at 1.5100, 1.5120 and 1.5150. To the downside, supports are at 1.5050, 1.5020 and 1.5000