8 Apr 2015
GBP/USD keeps pushing higher, near 1.4970
FXStreet (Edinburgh) - The sterling remains on a firmer footing on Wednesday, now lifting GBP/USD to the area of 1.4970, or session tops.
GBP/USD propped up by M&A moves
The sterling is outperforming its G10 peers today, deriving extra support from the M&A sector following oil giant Royal Dutch Shell’s agreement to buy BG Group for £47 billion.
In addition, the renewed softness around the US dollar is helping in the upside sentiment, lifting spot to 2-day highs and closer to the psychological mark at 1.5000.
GBP/USD levels to watch
As of writing the pair is up 1.02% at 1.4959 with the next hurdle at 1.5000 (psychological level) ahead of 1.5008 (high Mar.19) and then 1.5108 (40-d MA). On the flip side, a breakdown of 1.4852 (200-h MA) would open the door to 1.4803 (low Apr.7) and finally 1.4775 (low Apr.2).
GBP/USD propped up by M&A moves
The sterling is outperforming its G10 peers today, deriving extra support from the M&A sector following oil giant Royal Dutch Shell’s agreement to buy BG Group for £47 billion.
In addition, the renewed softness around the US dollar is helping in the upside sentiment, lifting spot to 2-day highs and closer to the psychological mark at 1.5000.
GBP/USD levels to watch
As of writing the pair is up 1.02% at 1.4959 with the next hurdle at 1.5000 (psychological level) ahead of 1.5008 (high Mar.19) and then 1.5108 (40-d MA). On the flip side, a breakdown of 1.4852 (200-h MA) would open the door to 1.4803 (low Apr.7) and finally 1.4775 (low Apr.2).