6 Apr 2015
GBP/USD posts fresh 2-week highs near 1.4950
FXStreet (Mumbai) - GBP/USD extends it uptrend for the second straight session and firms near 1.4950 levels as traders now await US services data for further momentum on the major.
GBP/USD faces stiff resistance at 1.4950
The GBP/USD pair trades at fresh two-week highs of 1.4947, up 0.19%. The cable continues its upside bias amid low volumes as European markets remain closed in extension of Easter on Monday while focus shifts towards upcoming US economic releases for fresh cues.
The British pound higher versus the US dollar, confirming its recent bullish momentum as traders now eye UK services PMI due tomorrow and Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4995 above which gains could be extended to 1.5013 levels. On the flip side, support is seen at 1.4900 levels below which it could extend losses to 1.4883 (5-DMA) levels.
GBP/USD faces stiff resistance at 1.4950
The GBP/USD pair trades at fresh two-week highs of 1.4947, up 0.19%. The cable continues its upside bias amid low volumes as European markets remain closed in extension of Easter on Monday while focus shifts towards upcoming US economic releases for fresh cues.
The British pound higher versus the US dollar, confirming its recent bullish momentum as traders now eye UK services PMI due tomorrow and Thursday’s Bank of England (BoE) policy meet. BOE is expected to keep interest rates unchanged at 0.50%, starting off an eighth year at this rate having originally brought down to this level in March 2009.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4995 above which gains could be extended to 1.5013 levels. On the flip side, support is seen at 1.4900 levels below which it could extend losses to 1.4883 (5-DMA) levels.