9 Apr 2015
GBP/USD pair drops to 1.48
FXStreet (Mumbai) - The USD caught another bid wave all of a sudden, thereby pushing the GBP/USD lower to 1.48 levels.
USD on the rise
So far, we have not heard about any major news responsible for the fresh buying seen in the USD. Moreover, the move appears to be the continuation of the trend that began post the release of FOMC minutes yesterday.
The UK Chamber of Commerce did report slower growth in the first quarter today, although the news hardly received any attention. Meanwhile, the pair could be in influenced by the UK trade balance data due for release later today.
GBP/USD Technical Levels
The pair trades just above 1.48, breach of which could push the pair down to 1.4749. On the flip side, a rise above 1.4849 could push the pair back to 1.4880 levels.
USD on the rise
So far, we have not heard about any major news responsible for the fresh buying seen in the USD. Moreover, the move appears to be the continuation of the trend that began post the release of FOMC minutes yesterday.
The UK Chamber of Commerce did report slower growth in the first quarter today, although the news hardly received any attention. Meanwhile, the pair could be in influenced by the UK trade balance data due for release later today.
GBP/USD Technical Levels
The pair trades just above 1.48, breach of which could push the pair down to 1.4749. On the flip side, a rise above 1.4849 could push the pair back to 1.4880 levels.