8 Apr 2015
GBP/USD jumps to fresh highs near 1.4930
FXStreet (Mumbai) - GBP/USD emerged the top performer amongst the majors in the mid-European session, wiping out previous losses completely, as the greenback declined versus its major peers in anticipation of dovish FOMC minutes.
GBP/USD rises from 1.4898
The GBP/USD pair trades higher by 0.73% at fresh two-day highs at 1.4927 levels, moving farther way from 1.48 barrier. The cable jumped around 30 pips above 1.49 handle and remained near highs as the pound witnessed fresh bout of buying while the US dollar extends declines across the board.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies fell -0.68% at fresh lows near 97.58.
GBP/USD remains elevated ahead of Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4950 above which gains could be extended to 1.500 levels. On the flip side, support is seen at 1.4830 (Today’s Low) levels below which it could extend losses to 1.4800 levels.
GBP/USD rises from 1.4898
The GBP/USD pair trades higher by 0.73% at fresh two-day highs at 1.4927 levels, moving farther way from 1.48 barrier. The cable jumped around 30 pips above 1.49 handle and remained near highs as the pound witnessed fresh bout of buying while the US dollar extends declines across the board.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies fell -0.68% at fresh lows near 97.58.
GBP/USD remains elevated ahead of Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4950 above which gains could be extended to 1.500 levels. On the flip side, support is seen at 1.4830 (Today’s Low) levels below which it could extend losses to 1.4800 levels.