26 Mar 2015
GBP/USD drops to 5-DMA
FXStreet (Mumbai) - The GBP/USD pair extended the drop to 1.4850 levels after the better-than-expected US market PMI data hit the wires.
GBP/USD: tests hourly 200-MA
The pair tested the hourly 200-MA located at 1.4846 after the preliminary Markit US services PMI data for March came-in at 58.5, beating the estimate of 57.0. The pair had already declined below 1.49 levels post the release of an upbeat weekly jobless claims data in the US. Meanwhile, hawkish comments from the Fed policymaker Lockhart also supported the US dollar.
GBP/USD Technical Levels
The immediate support is seen at 1.4846 (hourly 200-MA), under which losses could be extended to 1.48. On the other hand, a break above 1.4879 (hourly 50-MA), could push the pair back to 1.4950 levels.
GBP/USD: tests hourly 200-MA
The pair tested the hourly 200-MA located at 1.4846 after the preliminary Markit US services PMI data for March came-in at 58.5, beating the estimate of 57.0. The pair had already declined below 1.49 levels post the release of an upbeat weekly jobless claims data in the US. Meanwhile, hawkish comments from the Fed policymaker Lockhart also supported the US dollar.
GBP/USD Technical Levels
The immediate support is seen at 1.4846 (hourly 200-MA), under which losses could be extended to 1.48. On the other hand, a break above 1.4879 (hourly 50-MA), could push the pair back to 1.4950 levels.