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11 Mar 2015
GBP/USD revisits 1-month low
FXStreet (Córdoba) - GBP/USD is going through a consolidation phase just above the 1.5025 area, which is the floor of the last month range.
Disappointing UK manufacturing data put GBP/USD under pressure, with a low scored at 1.5027, exactly at the same level it bottomed yesterday. However, the pound has managed to hold above that level despite a stronger dollar. EUR/GBP drop to 7-year lows is helping Cable.
GBP/USD levels to watch
At time of writing, the pair is trading at 1.5050, virtually unchanged on the day. On the upside, the 1.5100 area has capped latest bounce attempts. Above this latter, GBP/USD could find next resistances at 1.5136 (Mar 9 high) and 1.5200 (psychological level).
On the flip side, a break below 1.5027 could send the pair quickly to 1.5000 (psychological level) ahead of 1.4950 (Jan 23 low).
Disappointing UK manufacturing data put GBP/USD under pressure, with a low scored at 1.5027, exactly at the same level it bottomed yesterday. However, the pound has managed to hold above that level despite a stronger dollar. EUR/GBP drop to 7-year lows is helping Cable.
GBP/USD levels to watch
At time of writing, the pair is trading at 1.5050, virtually unchanged on the day. On the upside, the 1.5100 area has capped latest bounce attempts. Above this latter, GBP/USD could find next resistances at 1.5136 (Mar 9 high) and 1.5200 (psychological level).
On the flip side, a break below 1.5027 could send the pair quickly to 1.5000 (psychological level) ahead of 1.4950 (Jan 23 low).