5 Mar 2015
GBP/USD recovers losses
FXStreet (Mumbai) - The GBP/USD pair has recovered most of its losses after having dipped below the 50-DMA located at 1.5237 levels. The pair currently trades at 1.5255; down 0.06% for the day.
GBP/USD: Back above 50% Fib level
The pair has recovered to trade above 1.5250 levels, which is the 50% Fib retracement (of 1.4949-1.5550). However, the bounce back appears weak as the British Pound lacks support from the 10-year Gilt yields in the UK, which are down 1.3 basis points to 1.865%. Moreover, the pair has been moving more or less in line with the EUR/USD pair. A minor recovery in the same, could have helped the GBP/USD pair recover above 1.5250 levels.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5274, above which gains could be extended to 1.5321. On the flip side, a break below 1.5237 (50-DMA) could send the pair down to 1.5179 levels.
GBP/USD: Back above 50% Fib level
The pair has recovered to trade above 1.5250 levels, which is the 50% Fib retracement (of 1.4949-1.5550). However, the bounce back appears weak as the British Pound lacks support from the 10-year Gilt yields in the UK, which are down 1.3 basis points to 1.865%. Moreover, the pair has been moving more or less in line with the EUR/USD pair. A minor recovery in the same, could have helped the GBP/USD pair recover above 1.5250 levels.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5274, above which gains could be extended to 1.5321. On the flip side, a break below 1.5237 (50-DMA) could send the pair down to 1.5179 levels.