7 Apr 2015
GBP/USD drops to session lows
FXStreet (Córdoba) - GBP/USD turned lower and is back near daily lows after the latest upside attempt was capped by the 1.4910 zone.
Cable surrendered to dollar strength and was dragged to a session low of 1.4838 in recent dealings, although it managed to halt the decline a few pips above its European low of 1.4828. At time of writing, GBP/USD is trading at 1.4858, now 0.10% below its opening price.
The Bank of England two-day policy meeting gets underway on Wednesday, with analysts expectation another month on hold. According to the latest polls, the BoE is not seen hiking rates from record lows until 2016.
GBP/USD technical levels
As for technical levels, GBP/USD could find immediate supports at 1.4828 (daily low), 1.4800 (psychological level) and 1.4775 (Apr 2 low). On the other hand, resistances are seen at 1.4919 (daily high), 1.4980 (Apr 6 high) and 1.5000 (psychological level).
Cable surrendered to dollar strength and was dragged to a session low of 1.4838 in recent dealings, although it managed to halt the decline a few pips above its European low of 1.4828. At time of writing, GBP/USD is trading at 1.4858, now 0.10% below its opening price.
The Bank of England two-day policy meeting gets underway on Wednesday, with analysts expectation another month on hold. According to the latest polls, the BoE is not seen hiking rates from record lows until 2016.
GBP/USD technical levels
As for technical levels, GBP/USD could find immediate supports at 1.4828 (daily low), 1.4800 (psychological level) and 1.4775 (Apr 2 low). On the other hand, resistances are seen at 1.4919 (daily high), 1.4980 (Apr 6 high) and 1.5000 (psychological level).