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2 Apr 2015
GBP/USD supported at 1.4800
FXStreet (Edinburgh) - The sterling is now losing the shine vs. the US dollar, dragging GBP/USD to another test of the 1.4800 handle.
GBP/USD down from 1.4870
After hitting session peaks in the 1.4870 area in early trade, the pair triggered a correction lower to the proximity of 1.4800 the figure, where it seems to have found decent support.
In the data space, Construction PMI in the UK economy ticked lower to 57.8 during March, below consensus at 59.5 and February’s 60.1. Next on tap for the pair, US Initial Claims, Trade Balance and Factory Orders are also due.
GBP/USD key levels
At the moment the pair is retreating 0.03% at 1.4817 and a break below 1.4722 (low Mar.20) would open the door to 1.4689 (low Mar.19) and finally 1.4635 (57-month low Mar.18). On the flip side, the initial hurdle lines up at 1.4870 (high Apr.2) ahead of 1.4901 (high Mar.30) and then 1.4923 (high Mar.27).
GBP/USD down from 1.4870
After hitting session peaks in the 1.4870 area in early trade, the pair triggered a correction lower to the proximity of 1.4800 the figure, where it seems to have found decent support.
In the data space, Construction PMI in the UK economy ticked lower to 57.8 during March, below consensus at 59.5 and February’s 60.1. Next on tap for the pair, US Initial Claims, Trade Balance and Factory Orders are also due.
GBP/USD key levels
At the moment the pair is retreating 0.03% at 1.4817 and a break below 1.4722 (low Mar.20) would open the door to 1.4689 (low Mar.19) and finally 1.4635 (57-month low Mar.18). On the flip side, the initial hurdle lines up at 1.4870 (high Apr.2) ahead of 1.4901 (high Mar.30) and then 1.4923 (high Mar.27).