30 Apr 2015
GBP/USD weakens in the Asian session
FXStreet (Mumbai) - The GBP/USD ran into offers close to 1.5450 in the Asian session on Thursday, after having seen the longest winning streak since 2012.
GBP/USD: Gains in last 12 out of 13 sessions
The pair traded higher on Wednesday for 12 out of the last 13 trading days. UK data released in the previous session was mixed with house prices rising strongly, but retail sales growth slowing significantly according to the Confederation of British Industry.
The weakness seen today is a result of the markets buying USD after the Fed statement released yesterday. With no major UK data due for release today, the market’s appetite for the US dollars would continue to guide the pair throughout the European session.
GBP/USD Technical Levels
At the moment, the pair is trading at 1.5405. The immediate support is seen at 1.5383 (Feb. 27), under which losses could be extended to 1.5340. On the flip side, a rise above 1.5450 could drive the pair higher to 1.5490 (200-DMA).
GBP/USD: Gains in last 12 out of 13 sessions
The pair traded higher on Wednesday for 12 out of the last 13 trading days. UK data released in the previous session was mixed with house prices rising strongly, but retail sales growth slowing significantly according to the Confederation of British Industry.
The weakness seen today is a result of the markets buying USD after the Fed statement released yesterday. With no major UK data due for release today, the market’s appetite for the US dollars would continue to guide the pair throughout the European session.
GBP/USD Technical Levels
At the moment, the pair is trading at 1.5405. The immediate support is seen at 1.5383 (Feb. 27), under which losses could be extended to 1.5340. On the flip side, a rise above 1.5450 could drive the pair higher to 1.5490 (200-DMA).