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12 Mar 2015
GBP/USD bounced off 1.4910
FXStreet (Edinburgh) - The sterling is now posting gains vs. the US dollar, with GBP/USD reverting the initial drop to the vicinity of 1.4900 the figure.
GBP/USD focus on UK data, Carney
The pair is looking to recover some of the ground lost on Wednesday, following the sharp sell off that dragged it to levels last seen in July 2013. It seems the greenback is taking a breather today, allowing the current rebound in the risk associated assets.
Ahead in the day, UK’s trade balance figures are due ahead of the speech by Governor Mark Carney. Market consensus expects the UK trade deficit to have narrowed to £9.7 billion during January.
GBP/USD levels to watch
As of writing the pair is up 0.18% at 1.4956 and a break above 1.5025 (low Mar.8) would expose 1.5077 (23.6% of 1.5554-1.4929) and finally 1.5108 (100-h MA). On the downside, the initial support lines up at 1.4900 (psychological level) ahead of 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).
GBP/USD focus on UK data, Carney
The pair is looking to recover some of the ground lost on Wednesday, following the sharp sell off that dragged it to levels last seen in July 2013. It seems the greenback is taking a breather today, allowing the current rebound in the risk associated assets.
Ahead in the day, UK’s trade balance figures are due ahead of the speech by Governor Mark Carney. Market consensus expects the UK trade deficit to have narrowed to £9.7 billion during January.
GBP/USD levels to watch
As of writing the pair is up 0.18% at 1.4956 and a break above 1.5025 (low Mar.8) would expose 1.5077 (23.6% of 1.5554-1.4929) and finally 1.5108 (100-h MA). On the downside, the initial support lines up at 1.4900 (psychological level) ahead of 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).