10 Mar 2015
GBP/USD off lows around 1.5050
FXStreet (Mumbai) - GBP/USD limits its bearish tone ahead of 1.50 handle and remains largely sold-off as the USD bulls dominated the market on renewed prospects of a June rate hike.
GBP/USD rebounds from 1.5029
The GBP/USD pair trades lower by -0.52% at 1.5050 moving away from fresh session lows previously posted at 1.5029. The cable lost its ground and fell back on 1.50 handle as the US dollar extending its gains versus all of its major peers in a range near 0.90%.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 98.50 levels, recording a 0.84% gain on the day.
As for important macro data, UK industrial and manufacturing numbers for January will be reported on Wednesday which may have further impacts on the major in absence of any significant data on the calendar today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5110 (5-DMA) above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.
GBP/USD rebounds from 1.5029
The GBP/USD pair trades lower by -0.52% at 1.5050 moving away from fresh session lows previously posted at 1.5029. The cable lost its ground and fell back on 1.50 handle as the US dollar extending its gains versus all of its major peers in a range near 0.90%.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 98.50 levels, recording a 0.84% gain on the day.
As for important macro data, UK industrial and manufacturing numbers for January will be reported on Wednesday which may have further impacts on the major in absence of any significant data on the calendar today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5110 (5-DMA) above which gains could be extended to 1.5136 (March 9 High) levels. On the flip side, support is seen at 1.5020 below which it could extend losses to 1.4988 (Feb 3 Low) levels.