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27 Mar 2015
GBP/USD trades below hourly 200-MA
FXStreet (Mumbai) - The GBP/USD pair back below hourly 200-MA located at 1.4850 ahead of the Bank of England governor Mike Carney’s speech.
GBP/USD: 150 pip move a new normal?
The pair has moved almost 150 pips daily since the beginning of this week. The gains have been capped repeatedly around 1.5 levels, while a fresh demand for Pounds emerges closer to 1.4850-1.48 levels. Similar action was witnessed in the previous session as the pair failed once again around 1.5 levels despite of a better-than-expected UK retails sales data. Meanwhile, the losses in the pair were restricted closer to 1.48 levels.
A breach of the range could be seen today after the Carney’s speech and the US Q4 GDP due for release later today.
GBP/USD Technical Levels
The pair currently trades at 1.4844. The immediate resistance is seen at 1.4850 (hourly 200-MA), above which gains could be extended to 1.4875 (hourly 50-MA). On the flip side, a break below 1.4840 could see the pair re-test 1.48.
GBP/USD: 150 pip move a new normal?
The pair has moved almost 150 pips daily since the beginning of this week. The gains have been capped repeatedly around 1.5 levels, while a fresh demand for Pounds emerges closer to 1.4850-1.48 levels. Similar action was witnessed in the previous session as the pair failed once again around 1.5 levels despite of a better-than-expected UK retails sales data. Meanwhile, the losses in the pair were restricted closer to 1.48 levels.
A breach of the range could be seen today after the Carney’s speech and the US Q4 GDP due for release later today.
GBP/USD Technical Levels
The pair currently trades at 1.4844. The immediate resistance is seen at 1.4850 (hourly 200-MA), above which gains could be extended to 1.4875 (hourly 50-MA). On the flip side, a break below 1.4840 could see the pair re-test 1.48.