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19 Mar 2015
GBP/USD finds support at 1.4700; market digests rate talks
FXStreet (Tokyo) - After falling 450 pips from post-Fed highs of 1.5160, the British Pound found support today at 1.4700 where the pair experienced some buying interest that sent it back to 1.4740.
As FXStreet analyst Omkar Godbole previously reported, the Sterling was "sold aggressively after the Bank of England (BOE) economist Haldane hinted at the possibility of an interest rate cut." Currently, GBP/USD is trading at 1.4721, down 1.71% on the day, having posted a daily high at 1.5013 and low at 1.4705.
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD levels
If the pair breaks below 1.4700, the GBP/USD will find supports at 1.4630 and 1.4600. To the upside, resistances are at 1.4760, 1.4800 and 1.4845.
As FXStreet analyst Omkar Godbole previously reported, the Sterling was "sold aggressively after the Bank of England (BOE) economist Haldane hinted at the possibility of an interest rate cut." Currently, GBP/USD is trading at 1.4721, down 1.71% on the day, having posted a daily high at 1.5013 and low at 1.4705.
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD levels
If the pair breaks below 1.4700, the GBP/USD will find supports at 1.4630 and 1.4600. To the upside, resistances are at 1.4760, 1.4800 and 1.4845.