3 Apr 2015
GBP/USD consolidating in the low-1.4800s
FXStreet (Edinburgh) - The sterling is following the flat trend in the global markets, with GBP/USD hovering over the 1.4825/30 band.
GBP/USD waits for NFP
The pair managed to recover from weekly troughs around 1.4700 the figure during the first half of the week, retaking the 1.4800 handle and keeping the trade above it.
Recent data from the UK GDP and manufacturing PMI have been supportive of the pound, although political jitters around the upcoming UK elections seem to be limiting bullish attempts in the pair.
Ahead in the session, the pair will be under pressure in light of the US Non-farm Payrolls for the month of March (244K exp.).
GBP/USD key levels
At the moment the pair is retreating 0.04% at 1.4822 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 waits for NFP
The pair managed to recover from weekly troughs around 1.4700 the figure during the first half of the week, retaking the 1.4800 handle and keeping the trade above it.
Recent data from the UK GDP and manufacturing PMI have been supportive of the pound, although political jitters around the upcoming UK elections seem to be limiting bullish attempts in the pair.
Ahead in the session, the pair will be under pressure in light of the US Non-farm Payrolls for the month of March (244K exp.).
GBP/USD key levels
At the moment the pair is retreating 0.04% at 1.4822 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).