From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
16 Apr 2015
GBP/USD erases gains ahead of the European session
FXStreet (Mumbai) - The USD caught a fresh bid wave of the European session, taking the GBP/USD pair lower to 1.4825 from the Asian session high of 1.4878.
Three day rally at risk?
The fresh demand for the USD has put the three-day rally in the GBP/USD pair at risk. The pair has turned marginally negative amid thin economic calendar in the UK. However, we have the US Trade balance and housing data due for release later today.
In the meantime, the election uncertainty in the UK could weigh over the Gilt yields and the British Pound.
GBP/USD Technical Levels
The immediate support is seen at 1.796, under which losses could be extended to 1.4765 (10-DMA). On the flip side, a break above 1.4852 could see the pair test 1.49 levels.
Three day rally at risk?
The fresh demand for the USD has put the three-day rally in the GBP/USD pair at risk. The pair has turned marginally negative amid thin economic calendar in the UK. However, we have the US Trade balance and housing data due for release later today.
In the meantime, the election uncertainty in the UK could weigh over the Gilt yields and the British Pound.
GBP/USD Technical Levels
The immediate support is seen at 1.796, under which losses could be extended to 1.4765 (10-DMA). On the flip side, a break above 1.4852 could see the pair test 1.49 levels.