26 Mar 2015
GBP/USD slumps below 1.4900
FXStreet (Edinburgh) - The pound has given away earlier gains to the 1.5000 handle and is now pushing GBP/USD to test the lower bound of the range near 1.4890.
GBP/USD retreats from 1.5000
Auspicious results from UK retail sales during February plus a persistent softer tone in the greenback gave the pair extra wings in early trade, testing the vicinity of the psychological barrier at 1.5000.
However, a bout of risk aversion is now returning the US dollar back to life, confining spot to session lows in the 1.4870 neighbourhood.
GBP/USD key levels
At the moment the pair is advancing 0.07% at 1.4893 with then next hurdle at 1.5008 (high Mar.19) followed by 1.5155 (high Mar.18) and then 1.5203 (61.8% of 1.5554-1.4635). On the downside, a break below 1.4866 (10-d MA) would open the door to 1.4848 (200-h MA) and finally 1.4831 (low Mar.25).
GBP/USD retreats from 1.5000
Auspicious results from UK retail sales during February plus a persistent softer tone in the greenback gave the pair extra wings in early trade, testing the vicinity of the psychological barrier at 1.5000.
However, a bout of risk aversion is now returning the US dollar back to life, confining spot to session lows in the 1.4870 neighbourhood.
GBP/USD key levels
At the moment the pair is advancing 0.07% at 1.4893 with then next hurdle at 1.5008 (high Mar.19) followed by 1.5155 (high Mar.18) and then 1.5203 (61.8% of 1.5554-1.4635). On the downside, a break below 1.4866 (10-d MA) would open the door to 1.4848 (200-h MA) and finally 1.4831 (low Mar.25).