Back
31 Mar 2015
GBP/USD recovers to 1.4780
FXStreet (Mumbai) - GBP/USD halted its downslide in the European session, and recovered partial losses largely as the US dollar took a breather in its upsurge and corrected some of its previous gains.
GBP/USD remains below 1.48
The GBP/USD pair trades lower at 1.4783, down -0.15% on the day, retreating from fresh weekly lows posted at 1.4756 levels earlier in the session. The cable seems to extends its recovery mode as the US dollar stalled its rally as traders booked profits on USD longs following the recent strength in the greenback and ahead of consumer confidence figures and Chicago PMI data due for release later today.
Moreover, the GBP/USD pair bounced-off fresh weekly lows as traders digest upbeat Q4 2014 GDP data and narrowing current account deficit figures from the UK.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4813 (Today’s High) above which gains could be extended to 1.4854 levels. On the flip side, support is seen at 1.4756 (Today’s Low) levels below which it could extend losses to 1.4728 (March 15 Low) levels.
GBP/USD remains below 1.48
The GBP/USD pair trades lower at 1.4783, down -0.15% on the day, retreating from fresh weekly lows posted at 1.4756 levels earlier in the session. The cable seems to extends its recovery mode as the US dollar stalled its rally as traders booked profits on USD longs following the recent strength in the greenback and ahead of consumer confidence figures and Chicago PMI data due for release later today.
Moreover, the GBP/USD pair bounced-off fresh weekly lows as traders digest upbeat Q4 2014 GDP data and narrowing current account deficit figures from the UK.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4813 (Today’s High) above which gains could be extended to 1.4854 levels. On the flip side, support is seen at 1.4756 (Today’s Low) levels below which it could extend losses to 1.4728 (March 15 Low) levels.