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1 Apr 2015
GBP/USD finds support at 1.4820
FXStreet (Edinburgh) - After bottoming out around 1.4820 at the end of the Asian session, GBP/USD is now looking to clinch the 1.4840 band.
GBP/USD muted after PMI
The better sentiment towards the risk appetite is driving the pair higher on Wednesday, extending yesterday’s bounce off the 1.4760 area. Recent auspicious GDP figures in the UK economy during the fourth quarter have also been supporting the GBP rally, which run out of steam around 1.4880 so far.
In the data space, Markit’s manufacturing PMI in the British economy came in at 54.4 during March, bettering both estimates and February’s resding.
GBP/USD key levels
At the moment the pair is advancing 0.12% at 1.4835 with the next hurdle at 1.4901 (high Mar.30) followed by 1.4923 (high Mar.27) and finally 1.5000 (psychological level). On the downside, a breach of 1.4752 (low Mar.30) would aim for 1.4722 (low Mar.20) followed by 1.4689 (low Mar.19).
GBP/USD muted after PMI
The better sentiment towards the risk appetite is driving the pair higher on Wednesday, extending yesterday’s bounce off the 1.4760 area. Recent auspicious GDP figures in the UK economy during the fourth quarter have also been supporting the GBP rally, which run out of steam around 1.4880 so far.
In the data space, Markit’s manufacturing PMI in the British economy came in at 54.4 during March, bettering both estimates and February’s resding.
GBP/USD key levels
At the moment the pair is advancing 0.12% at 1.4835 with the next hurdle at 1.4901 (high Mar.30) followed by 1.4923 (high Mar.27) and finally 1.5000 (psychological level). On the downside, a breach of 1.4752 (low Mar.30) would aim for 1.4722 (low Mar.20) followed by 1.4689 (low Mar.19).