30 Mar 2015
GBP/USD recovers from lows near 1.4825
FXStreet (Mumbai) - GBP/USD remained heavy this morning, starting the week on a weaker note, as the cable was relentlessly sold-off versus the greenback as traders continue to cheer hawkish Yellen’s comments, boosting the USD bulls.
GBP/USD rises from 1.4803
The GBP/USD pair trades lower at 1.4823, down -0.46% on the day, bouncing-off fresh session lows posted at 1.4803 levels some time ago. The cable diver deeper in to losses mainly driven by a strengthening US dollar across the board, supported by Fed Yellen’s comments over the weekend stating the rate hike could very well become a reality this year which boosted the USD bulls.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.45% near session highs at 98.06 levels.
Meanwhile, traders now await net lending figures from the UK and major US release in the day ahead while Greece concerns return to the markets.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4866 (5-DMA) above which gains could be extended to 1.4895 (20-DMA) levels. On the flip side, support is seen at 1.4800 levels below which it could extend losses to 1.4728 (March 15 Low) levels.
GBP/USD rises from 1.4803
The GBP/USD pair trades lower at 1.4823, down -0.46% on the day, bouncing-off fresh session lows posted at 1.4803 levels some time ago. The cable diver deeper in to losses mainly driven by a strengthening US dollar across the board, supported by Fed Yellen’s comments over the weekend stating the rate hike could very well become a reality this year which boosted the USD bulls.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.45% near session highs at 98.06 levels.
Meanwhile, traders now await net lending figures from the UK and major US release in the day ahead while Greece concerns return to the markets.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4866 (5-DMA) above which gains could be extended to 1.4895 (20-DMA) levels. On the flip side, support is seen at 1.4800 levels below which it could extend losses to 1.4728 (March 15 Low) levels.