6 Mar 2015
GBP/USD on its way to 1.5200?
FXStreet (Edinburgh) - The selling pressure around the sterling is now picking up pace, dragging GBP/USD to test the 1.5215/10 band.
GBP/USD weaker on USD strength
The pair is posting fresh 4-week lows in the vicinity of the key support at 1.5200 today, following the rest of the riskier assets on their march south amidst increasing buying interest surrounding the greenback.
In the UK economy, Consumer Inflation Expectations are due next ahead of the more relevant US Non-farm Payrolls for the month of February (240K exp.).
GBP/USD levels to consider
At the moment the pair is retreating 0.12% at 1.5212 and a break below 1.5187 (daily cloud base) would open the door to 1.5182 (61.8% of 1.4952-1.5554) and finally 1.5100 (psychological level). On the upside, the initial hurdle lines up at 1.5257 (hourly high Mar.6) followed by 1.5270 (high Mar.5) and then 1.5293 (55-d MA).
GBP/USD weaker on USD strength
The pair is posting fresh 4-week lows in the vicinity of the key support at 1.5200 today, following the rest of the riskier assets on their march south amidst increasing buying interest surrounding the greenback.
In the UK economy, Consumer Inflation Expectations are due next ahead of the more relevant US Non-farm Payrolls for the month of February (240K exp.).
GBP/USD levels to consider
At the moment the pair is retreating 0.12% at 1.5212 and a break below 1.5187 (daily cloud base) would open the door to 1.5182 (61.8% of 1.4952-1.5554) and finally 1.5100 (psychological level). On the upside, the initial hurdle lines up at 1.5257 (hourly high Mar.6) followed by 1.5270 (high Mar.5) and then 1.5293 (55-d MA).