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4 May 2015
GBP/USD falls to fresh session lows
FXStreet (Mumbai) - The US dollar is being bid higher across the board, taking the GBP/USD pair to a fresh session low of 1.5107.
GBP/USD: US data awaited
The pair could be influenced by the US factory orders data for March due for release today. Furthermore, Fed policymakers – Evans and Williams – are due to speak in the North American session. Given, the absence of a major market moving data in the UK, the pair largely mimicked the move in the EUR/USD pair during the European session.
A strong US data along with hawkish comments from Evans and Williams could further weaken the pair. The UK election uncertainty could also weigh over British Pound.
GBP/USD Technical Levels
The pair is currently trading at 1.5113. The immediate support is located at 1.5105, under which losses could be extended to 1.5027. On the flip side, a break above 1.5168 above which gains could be extended to 1.52.
GBP/USD: US data awaited
The pair could be influenced by the US factory orders data for March due for release today. Furthermore, Fed policymakers – Evans and Williams – are due to speak in the North American session. Given, the absence of a major market moving data in the UK, the pair largely mimicked the move in the EUR/USD pair during the European session.
A strong US data along with hawkish comments from Evans and Williams could further weaken the pair. The UK election uncertainty could also weigh over British Pound.
GBP/USD Technical Levels
The pair is currently trading at 1.5113. The immediate support is located at 1.5105, under which losses could be extended to 1.5027. On the flip side, a break above 1.5168 above which gains could be extended to 1.52.