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9 Apr 2015
GBP/USD accelerates the drop
FXStreet (Edinburgh) - The sterling is now intensifying its depreciation vs. the US dollar, sending GBP/USD to test session lows around 1.4740.
GBP/USD in 3-week lows
The buying interest surrounding the US dollar is rapidly gathering steam now, pushing spot to multi-week lows and turning the week negative for the pound.
The greenback, in terms of the US Dollar Index, has climbed to session highs following comments by IMF Chief C.Lagarde, urging nations to hedge against destabilizing FX moves. Lagarde also added that recoveries in the US and UK are firming up.
GBP/USD levels to consider
At the moment the pair is losing 0.74% at 1.4756 facing the next support at 1.4740 (low Apr.1) followed by 1.4722 (low Mar.20) and then 1.4689 (low Mar.19). On the flip side, a breakout of 1.4854 (200-h MA) would aim for 1.4972 (high Apr.8) and finally 1.4981 (high Apr.6).
GBP/USD in 3-week lows
The buying interest surrounding the US dollar is rapidly gathering steam now, pushing spot to multi-week lows and turning the week negative for the pound.
The greenback, in terms of the US Dollar Index, has climbed to session highs following comments by IMF Chief C.Lagarde, urging nations to hedge against destabilizing FX moves. Lagarde also added that recoveries in the US and UK are firming up.
GBP/USD levels to consider
At the moment the pair is losing 0.74% at 1.4756 facing the next support at 1.4740 (low Apr.1) followed by 1.4722 (low Mar.20) and then 1.4689 (low Mar.19). On the flip side, a breakout of 1.4854 (200-h MA) would aim for 1.4972 (high Apr.8) and finally 1.4981 (high Apr.6).