9 Mar 2015
GBP/USD: Gains capped at 1.51?
FXStreet (Mumbai) - The GBP/USD pair clocked a high of 1.5104, before heading slightly lower to 1.5686 levels. The British Pound lacks support from the UK Gilt yields to extend gains over and above 1.51 levels against the USD.
GBP/USD: Hovers near 1.51
The pair is once again closing-in on 1.51 levels, amid an absence of fresh fundamental trigger. The 10-year UK Gilt yield is down 1.6 basis points to 1.936%, while the US 10-year yield is down 1.5 basis points to 2.225%. It appears the yield spread too, has a very little to offer in order for the pair to rise above 1.51 levels. The gains could be capped at 1.51 if the UK gilt yields decline more than the Treasury yields. Meanwhile, sharp gains in the shared currency could push the GBP/USD pair well above 1.51 levels.
GBP/USD Technical Levels
The pair currently trades at 1.51 levels. The immediate resistance is seen at 1.5141 (5-DMA), above which gains could be extended to 1.5180. On the other hand, a break below 1.5080 could drive the pair back to 1.5050 levels.
GBP/USD: Hovers near 1.51
The pair is once again closing-in on 1.51 levels, amid an absence of fresh fundamental trigger. The 10-year UK Gilt yield is down 1.6 basis points to 1.936%, while the US 10-year yield is down 1.5 basis points to 2.225%. It appears the yield spread too, has a very little to offer in order for the pair to rise above 1.51 levels. The gains could be capped at 1.51 if the UK gilt yields decline more than the Treasury yields. Meanwhile, sharp gains in the shared currency could push the GBP/USD pair well above 1.51 levels.
GBP/USD Technical Levels
The pair currently trades at 1.51 levels. The immediate resistance is seen at 1.5141 (5-DMA), above which gains could be extended to 1.5180. On the other hand, a break below 1.5080 could drive the pair back to 1.5050 levels.