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31 Mar 2015
GBP/USD upside stalled near 1.4870
FXStreet (Edinburgh) - GBP/USD has found some bids around 1.4760, managing not only to regain the 1.4800 handle but also to advance to session tops near 1.4870.
GBP/USD back to gains above 1.4850
The pound is outperforming its G10 peers with the exception of the US dollar, boosted by short positions getting squeezed along with month/quarter-end flows. Auspicious results from the UK GDP during the fourth quarter would also be collaborating with today’s upside.
Ahead in the week, the manufacturing PMI tracked by Markit is due tomorrow followed by the Construction PMI due on Wednesday.
GBP/USD key levels
At the moment the pair is advancing 0.28% at 1.4852 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 back to gains above 1.4850
The pound is outperforming its G10 peers with the exception of the US dollar, boosted by short positions getting squeezed along with month/quarter-end flows. Auspicious results from the UK GDP during the fourth quarter would also be collaborating with today’s upside.
Ahead in the week, the manufacturing PMI tracked by Markit is due tomorrow followed by the Construction PMI due on Wednesday.
GBP/USD key levels
At the moment the pair is advancing 0.28% at 1.4852 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).