5 Mar 2015
GBP/USD recovers from the dip, trades at 50-DMA
FXStreet (Mumbai) - The GBP/USD pair dipped to a low of 1.5217, before recovering slightly to trade at its 50-DMA located at 1.5237. The pair continues to mimic the movements in the EUR/USD pair.
GBP/USD: ignores US data
The European Central Bank’s (ECB) rate decision and more importantly the press conference overshadowed the weekly jobless claims data in the US. The GBP/USD pair did not respond to the labor department data in the US, which showed Initial jobless claims rose more than expected last week, to 320K from 313K the prior week. Expectations were for initial claims to total 295K. The four week moving average of claims rose 10,250 from the previous week to 304,750.
Despite the rise in the US weekly jobless claims, the GBP/USD pair failed to strengthen as it largely tracked the movement in the shared currency.
GBP/USD Technical Levels
The pair currently trades at 1.5237; down 0.18%. The immediate resistance is seen at 1.5268, above which gains could be extended to 1.5321 levels. On the flip side, a break below 1.5237 could push the pair down to 1.5179 levels.
GBP/USD: ignores US data
The European Central Bank’s (ECB) rate decision and more importantly the press conference overshadowed the weekly jobless claims data in the US. The GBP/USD pair did not respond to the labor department data in the US, which showed Initial jobless claims rose more than expected last week, to 320K from 313K the prior week. Expectations were for initial claims to total 295K. The four week moving average of claims rose 10,250 from the previous week to 304,750.
Despite the rise in the US weekly jobless claims, the GBP/USD pair failed to strengthen as it largely tracked the movement in the shared currency.
GBP/USD Technical Levels
The pair currently trades at 1.5237; down 0.18%. The immediate resistance is seen at 1.5268, above which gains could be extended to 1.5321 levels. On the flip side, a break below 1.5237 could push the pair down to 1.5179 levels.