25 Mar 2015
GBP/USD backs-off from the session high
FXStreet (Mumbai) - The GBP/USD pair has declined slightly from the session high ahead of the European session as investors await fresh cues from the UK Gilt yields.
GBP/USD: Trades at 10-DMA
The pair fell from a high of 1.4876 to trade at the 10-DMA currently located at 1.4857. The weak CPI print released on Tuesday, pushed the GBP/USD lower to 1.4830 levels. The slight gains seen today during the Asian session could be erased quickly in case the UK gilt yields extend the slide. Given, the absence of a fresh economic data out of the UK today, the pair is likely to track movement in the UK Gilt yields throughout the European session.
GBP/USD Technical Levels
The immediate support is seen at 1.4849, under which the pair could extend the drop to 1.48 levels. On the flip side, a break above the daily high at 1.4876 could drive the pair higher to 1.4904 (5-DMA).
GBP/USD: Trades at 10-DMA
The pair fell from a high of 1.4876 to trade at the 10-DMA currently located at 1.4857. The weak CPI print released on Tuesday, pushed the GBP/USD lower to 1.4830 levels. The slight gains seen today during the Asian session could be erased quickly in case the UK gilt yields extend the slide. Given, the absence of a fresh economic data out of the UK today, the pair is likely to track movement in the UK Gilt yields throughout the European session.
GBP/USD Technical Levels
The immediate support is seen at 1.4849, under which the pair could extend the drop to 1.48 levels. On the flip side, a break above the daily high at 1.4876 could drive the pair higher to 1.4904 (5-DMA).