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4 Mar 2015
GBP/USD bought at 1.5340; now at 1.5360, watch out 1.5370 and 1.5400
FXStreet (San Francisco) - After sliding from 1.5370 to find support at its lowest level since February 23 at 1.5340, the GBP/USD found a buying interest that sent it back to trade at 1.5360. The Cable lies just below MA-50 hours at 1.5370 and MA-200 hours at 1.5400.
Currently, GBP/USD is trading at 1.5363, almost flat on the day, having posted a daily high at 1.5375 and low at 1.5340. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
As FXstreet's Analyst Omkar Godbole reported previusly, investors are focused now in the UK service sector PMI that will be release today European morning. Service PMI is seen rising slightly to 57.5 from the previous figure of 57.2.
"A weaker-than-expected services PMI report in the UK, could send the GBP/USD pair down to 1.5320 (38.2% Fib retracement of 1.4949-1.5550)," Godbole affirms.
GBP/USD levels
If the pair manages to break above the 1.5370, it will find next resistances at 1.5400 and 1.5420. To the downside, supports are at 1.5350, 1.5340 and 1.5330. Please note that there is an option expiry at 1.5185 for GBP£375 million (USD$576 million).
Currently, GBP/USD is trading at 1.5363, almost flat on the day, having posted a daily high at 1.5375 and low at 1.5340. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
As FXstreet's Analyst Omkar Godbole reported previusly, investors are focused now in the UK service sector PMI that will be release today European morning. Service PMI is seen rising slightly to 57.5 from the previous figure of 57.2.
"A weaker-than-expected services PMI report in the UK, could send the GBP/USD pair down to 1.5320 (38.2% Fib retracement of 1.4949-1.5550)," Godbole affirms.
GBP/USD levels
If the pair manages to break above the 1.5370, it will find next resistances at 1.5400 and 1.5420. To the downside, supports are at 1.5350, 1.5340 and 1.5330. Please note that there is an option expiry at 1.5185 for GBP£375 million (USD$576 million).