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19 Mar 2015
GBP/USD back below 1.4800
FXStreet (Edinburgh) - The selling mood is growing bigger around the sterling on Thursday, now sending GBP/USD to session lows in the 1.4770/60 band.
GBP/USD hurt by dollar
The strong resurgence of the US dollar keeps punishing the risk-associated assets today. Spot has already given away gains to the 1.5160 area posted on Wednesday in response to the dovish tone from the FOMC statement, and is currently meandering sub-1.4800 levels.
Quite choppy week for the sterling so far, which has already been hit by the steady monetary stance from the BoE and the mixed results from the UK’s labour market during February.
GBP/USD relevant levels
As of writing the pair is down 1.38% at 1.4766 facing the immediate support at 1.4758 (76.4% of 1.4635-1.5155) followed by 1.4635 (57-month low Mar.18) and then 1.4505 (low Jun.11 2010). On the flip side, a breakout of 1.4897 (200-h MA) would open the door to 1.5000 (psychological level) and finally 1.5155 (high Mar.18).
GBP/USD hurt by dollar
The strong resurgence of the US dollar keeps punishing the risk-associated assets today. Spot has already given away gains to the 1.5160 area posted on Wednesday in response to the dovish tone from the FOMC statement, and is currently meandering sub-1.4800 levels.
Quite choppy week for the sterling so far, which has already been hit by the steady monetary stance from the BoE and the mixed results from the UK’s labour market during February.
GBP/USD relevant levels
As of writing the pair is down 1.38% at 1.4766 facing the immediate support at 1.4758 (76.4% of 1.4635-1.5155) followed by 1.4635 (57-month low Mar.18) and then 1.4505 (low Jun.11 2010). On the flip side, a breakout of 1.4897 (200-h MA) would open the door to 1.5000 (psychological level) and finally 1.5155 (high Mar.18).