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11 Mar 2015
GBP/USD testing 1.5000
FXStreet (Edinburgh) - The selling interest is picking up pace around the sterling now, pushing GBP/USD to challenge the psychological support at 1.5000.
GBP/USD in multi-week lows
The pair is trading in the low-1.5000s, levels last seen in late January, correcting lower from session peaks in the vicinity of the 1.5100 handle. Spot paid almost no attention to the earlier data from the UK manufacturing and industrial sectors, coming in below previous forecasts.
Despite the current GBP resilience, the dynamics around the greenback will continue to be the main driver behind the pair’s price action ahead of next week’s FOMC meeting.
GBP/USD levels to watch
At the moment the pair is down 0.44% at 1.5003 with the next support at 1.4988 (low Feb.3) ahead of 1.4952 (low Jan.23) and then 1.4814 (2013 low Jul.9). On the upside, a break above 1.5114 (100-h MA) would open the door to 1.5138 (23.6% of 1.5554-1.5009) and finally 1.5194 (daily cloud base).
GBP/USD in multi-week lows
The pair is trading in the low-1.5000s, levels last seen in late January, correcting lower from session peaks in the vicinity of the 1.5100 handle. Spot paid almost no attention to the earlier data from the UK manufacturing and industrial sectors, coming in below previous forecasts.
Despite the current GBP resilience, the dynamics around the greenback will continue to be the main driver behind the pair’s price action ahead of next week’s FOMC meeting.
GBP/USD levels to watch
At the moment the pair is down 0.44% at 1.5003 with the next support at 1.4988 (low Feb.3) ahead of 1.4952 (low Jan.23) and then 1.4814 (2013 low Jul.9). On the upside, a break above 1.5114 (100-h MA) would open the door to 1.5138 (23.6% of 1.5554-1.5009) and finally 1.5194 (daily cloud base).