25 Mar 2015
GBP/USD lifted above 1.4880
FXStreet (Mumbai) - GBP/USD bounced-off 1.49 handle and remains elevated in the mid-European session, as the pair seems mainly driven by US dollar moves in a relatively dry GBP economic calendar ahead of US macro data and Fed’s Evans speech later in the day.
US data awaited
The GBP/USD pair trades higher by 0.22% at 1.4882, rebounding from fresh session highs just shy of 1.49 barrier. The cable holds gains largely on the back of a broadly weaker greenback in anticipation of a softer consumer goods durable data.
Moreover, the upside in GBP/USD remains capped as the sterling remains pressured due to weak UK inflation figures released in the previous session. Meanwhile, in absence of any significant GBP data, traders will now turn their attention towards US economic releases later in the day for further momentum on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4900 above which gains could be extended to 1.4986 levels. On the flip side, support is seen at 1.4830 levels below which it could extend losses to 1.4800 levels.
US data awaited
The GBP/USD pair trades higher by 0.22% at 1.4882, rebounding from fresh session highs just shy of 1.49 barrier. The cable holds gains largely on the back of a broadly weaker greenback in anticipation of a softer consumer goods durable data.
Moreover, the upside in GBP/USD remains capped as the sterling remains pressured due to weak UK inflation figures released in the previous session. Meanwhile, in absence of any significant GBP data, traders will now turn their attention towards US economic releases later in the day for further momentum on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4900 above which gains could be extended to 1.4986 levels. On the flip side, support is seen at 1.4830 levels below which it could extend losses to 1.4800 levels.