9 Mar 2015
GBP/USD edges higher
FXStreet (Mumbai) - The GBP/USD pair trades marginally higher at 1.5071, after having recovered from the low of 1.5049 seen during the Asian session.
GBP/USD: 1.51 or 1.50?
The uptick in the pair seen at the time of writing could be due to a slight weakness in the US Treasury yields. The 10-year yield currently trades 1.1 basis points lower at 2.229%. Further losses in the yields could drive the pair higher towards 1.51 levels.
However, no major data are due of of the UK or the US today. Hence, the markets could extend post non-farm payrolls moves seen on Friday. In this case, the Treasury yields could rise, thereby pushing the GBP/USD towards 1.50 levels.
GBP/USD Technical Levels
The pair has an immediate resistance at 1.5090-1.51 levels, above which gains could be extended to 1.5135 (5-DMA) levels. On the flip side, a break below 1.5050 could push the pair down to 1.50 levels.
GBP/USD: 1.51 or 1.50?
The uptick in the pair seen at the time of writing could be due to a slight weakness in the US Treasury yields. The 10-year yield currently trades 1.1 basis points lower at 2.229%. Further losses in the yields could drive the pair higher towards 1.51 levels.
However, no major data are due of of the UK or the US today. Hence, the markets could extend post non-farm payrolls moves seen on Friday. In this case, the Treasury yields could rise, thereby pushing the GBP/USD towards 1.50 levels.
GBP/USD Technical Levels
The pair has an immediate resistance at 1.5090-1.51 levels, above which gains could be extended to 1.5135 (5-DMA) levels. On the flip side, a break below 1.5050 could push the pair down to 1.50 levels.