7 Apr 2015
GBP/USD fails to hold above 1.4900
FXStreet (Córdoba) - GBP/USD managed to recover from daily lows and rose toward the 1.4900 area despite broad dollar strength.
GBP/USD fell to a low of 1.4828 during the European session, erasing the nonfarm payrolls inspired gains, but managed to bounce helped by UK services PMI data and reached a session high of 1.4911. However, Cable failed to sustain gains above 1.4900 and pulled back to currently trade at the 1.4880 zone, little changed on the day.
GBP/USD levels to watch
In terms of technical levels, GBP/USD could find immediate resistances at 1.4919 (daily high), 1.4980 (Apr 6 high) and 1.5000 (psychological level). On the flip side, supports are seen at 1.4828 (daily low), 1.4800 (psychological level) and 1.4775 (Apr 2 low).
GBP/USD fell to a low of 1.4828 during the European session, erasing the nonfarm payrolls inspired gains, but managed to bounce helped by UK services PMI data and reached a session high of 1.4911. However, Cable failed to sustain gains above 1.4900 and pulled back to currently trade at the 1.4880 zone, little changed on the day.
GBP/USD levels to watch
In terms of technical levels, GBP/USD could find immediate resistances at 1.4919 (daily high), 1.4980 (Apr 6 high) and 1.5000 (psychological level). On the flip side, supports are seen at 1.4828 (daily low), 1.4800 (psychological level) and 1.4775 (Apr 2 low).