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GBP/USD weakens in Asian session

FXStreet (Mumbai) - The GBP/USD pair weakened moderately to 1.4879 in the Asian session on Tuesday after having ended the previous session below 1.49 levels.

Trades below hourly 100-MA

The pair currently trades below the hourly 100-MA located at 1.4892 ahead of the European session, which lacks any fresh fundamental trigger. The latest You-Gov poll for the Sun newspaper has Labor in front by 1 point on 35% with the Cons on 34%, UKIP 13%, LibDems 7%. The election uncertainty could influence the GBP/USD pair.

The 30-year Gilt auction in the UK too, could influence the pair today. A weak demand for Gilts could hurt the GBP/USD pair.

GBP/USD Technical Levels

The immediate resistance is located at 1.4892 (hourly 100-MA), could push the pair higher to 1.4839 (hourly 50-MA). On the flip side, a break below 1.4865 could drive the pair lower to 1.4808 levels.

Japan Coincident Index: 110.7 (February) vs previous 113.3

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EUR/USD dips to lows near 1.0700

The single currency is extending its offered tone on Tuesday, taking EUR/USD to the area of session lows in the vicinity of 1.0700 the figure...
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