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9 Apr 2015
GBP/USD drops to 1.4780
FXStreet (Edinburgh) - The pound remains entrenched into the red territory on Thursday, with GBP/USD returning to sub-1.4800 levels.
GBP/USD capped by 1.5000
The continuation of the recent upside bias in the US dollar is hurting the risk-associated universe today. The pair has been relegated to trade in the lower bound of the weekly range near 1.4770 after being rejected once again from the boundaries of the psychological barrier at 1.5000.
In the data space, UK’s trade deficit widened to £10.34 billion during February while the BoE left unchanged its monetary stance, broadly in line with market expectations.
GBP/USD levels to consider
At the moment the pair is losing 0.58% at 1.4780 facing the next support at 1.4740 (low Apr.1) followed by 1.4722 (low Mar.20) and then 1.4689 (low Mar.19). On the flip side, a breakout of 1.4854 (200-h MA) would aim for 1.4972 (high Apr.8) and finally 1.4981 (high Apr.6).
GBP/USD capped by 1.5000
The continuation of the recent upside bias in the US dollar is hurting the risk-associated universe today. The pair has been relegated to trade in the lower bound of the weekly range near 1.4770 after being rejected once again from the boundaries of the psychological barrier at 1.5000.
In the data space, UK’s trade deficit widened to £10.34 billion during February while the BoE left unchanged its monetary stance, broadly in line with market expectations.
GBP/USD levels to consider
At the moment the pair is losing 0.58% at 1.4780 facing the next support at 1.4740 (low Apr.1) followed by 1.4722 (low Mar.20) and then 1.4689 (low Mar.19). On the flip side, a breakout of 1.4854 (200-h MA) would aim for 1.4972 (high Apr.8) and finally 1.4981 (high Apr.6).