6 Apr 2015
GBP/USD hits session high
FXStreet (Mumbai) - The GBP/USD pair rose to a session high of 1.4934, after having bounced-off from 1.49 levels earlier today.
Heading into Key Fib resistance
The pair is closing-in on 1.4935, which is the 38.2% Fib level of 1.4633-1.5122. Since March. 24th, the pair has repeatedly failed to sustain gains above 1.4935. Similar move was witnessed on Friday as well, when the pair rose from 1.4809 to a high of 1.4943 on a weaker-than-expected US non-farm payrolls data. However, the Friday’s closing was 1.4918, which market another failed attempt to sustain gains above 1.4935.
It remains to be seen whether the pair manages to rise and sustain above 1.4935 levels in a holiday-thinned trade today. A lot depends on the US ISM non-manufacturing print due for release later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4935, above which gains could be extended to 1.4983 (38.2% Fib retracement of 1.5550-1.4633). On the flip side, a break below 1.49 could drive the pair lower to 1.4848 (50% Fib retracement of 1.4633-1.5122).
Heading into Key Fib resistance
The pair is closing-in on 1.4935, which is the 38.2% Fib level of 1.4633-1.5122. Since March. 24th, the pair has repeatedly failed to sustain gains above 1.4935. Similar move was witnessed on Friday as well, when the pair rose from 1.4809 to a high of 1.4943 on a weaker-than-expected US non-farm payrolls data. However, the Friday’s closing was 1.4918, which market another failed attempt to sustain gains above 1.4935.
It remains to be seen whether the pair manages to rise and sustain above 1.4935 levels in a holiday-thinned trade today. A lot depends on the US ISM non-manufacturing print due for release later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4935, above which gains could be extended to 1.4983 (38.2% Fib retracement of 1.5550-1.4633). On the flip side, a break below 1.49 could drive the pair lower to 1.4848 (50% Fib retracement of 1.4633-1.5122).