GBP/USD hardly moves despite reports of health care bill losing ground

GBP/USD is hardly responding to reports of health care bill losing ground and continues to trade around 1.2495 levels.

White House is losing confidence

The reports are doing the rounds that the White House is no longer expressing confidence that the house vote on health care will be successful. As per Reuters report Republicans in Congress said they lacked the votes needed for passage of their US health care system overhaul.

It looks as though the bill has been rejected once again, although we haven’t heard any official confirmation. The White House expects the vote at 3:30 p.m.

GBP/USD Technical Levels

A break above the daily high of 1.2521 would expose 1.2569 (Feb 24 high), above which the spot could target 1.26 levels. On the downside, breach of support at 1.2467 (5-DMA) could yield a sell-off to 1.2405 (Mar 17 high) and 1.2374 (10-DMA).