26 Mar 2015
GBP/USD challenges 1.4850
FXStreet (Edinburgh) - The sterling is now following the rest of the risk associated assets on Thursday, sending GBP/USD to the area of 1.4850.
GBP/USD supported at 1.4800
In spite of the renewed weakness surrounding the pound, the pair seems to have found decent support in the vicinity of 1.4800 the figure earlier on, although the increasing offered tone could put that level to the test in the short term.
Spot is down over a big-figure after very auspicious retail sales data in the UK economy during last month boosted further GBP to the boundaries of the 1.5000 mark vs. the dollar, although the bull lacked of conviction and triggered the current steep leg lower.
GBP/USD key levels
At the moment the pair is retreating 0.22% at 1.4849 a break below 1.4807 (low Mar.26) would open the door to 1.4800 (psychological level) and finally 1.4699 (low Mar.13). On the other hand, the initial resistance aligns at 1.5008 (high Mar.19) followed by 1.5155 (high Mar.18) and then 1.5203 (61.8% of 1.5554-1.4635).
GBP/USD supported at 1.4800
In spite of the renewed weakness surrounding the pound, the pair seems to have found decent support in the vicinity of 1.4800 the figure earlier on, although the increasing offered tone could put that level to the test in the short term.
Spot is down over a big-figure after very auspicious retail sales data in the UK economy during last month boosted further GBP to the boundaries of the 1.5000 mark vs. the dollar, although the bull lacked of conviction and triggered the current steep leg lower.
GBP/USD key levels
At the moment the pair is retreating 0.22% at 1.4849 a break below 1.4807 (low Mar.26) would open the door to 1.4800 (psychological level) and finally 1.4699 (low Mar.13). On the other hand, the initial resistance aligns at 1.5008 (high Mar.19) followed by 1.5155 (high Mar.18) and then 1.5203 (61.8% of 1.5554-1.4635).