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20 Apr 2015
GBP/USD off lows, near 1.4920
FXStreet (Edinburgh) - After bottoming out in the 1.4900 neighbourhood, GBP/USD is now looking to regains the 1.4910/20 band.
GBP/USD weaker on risk-off sentiment
The softer tone around the pound is following the rest of the risk-associated assets today, with spot navigating the low-1.4900s so far. The recent upside momentum in GBP seems to have found tough resistance in the mid-1.5000s (Friday), correcting lower to the 1.4900 area since then.
Ahead in the week, the BoE minutes remains the immediate risk event followed by March’s Retail Sales and the Public Sector Net Borrowing. Market consensus expects the BoE to repeat the unanimous voting pattern favouring a steady stance in the monetary policy.
GBP/USD relevant levels
At the moment the pair is retreating 0.30% at 1.4917 and a breakdown of 1.4900 (psychological level) would target 1.4861 (Kijun Sen) en route to 1.4813 (low Apr.16). On the flip side, the initial up barrier lines up at 1.5053 (high Apr.17) followed by 1.5061 (50% of 1.5554-1.4567) and then 1.5065 (55-d MA).
GBP/USD weaker on risk-off sentiment
The softer tone around the pound is following the rest of the risk-associated assets today, with spot navigating the low-1.4900s so far. The recent upside momentum in GBP seems to have found tough resistance in the mid-1.5000s (Friday), correcting lower to the 1.4900 area since then.
Ahead in the week, the BoE minutes remains the immediate risk event followed by March’s Retail Sales and the Public Sector Net Borrowing. Market consensus expects the BoE to repeat the unanimous voting pattern favouring a steady stance in the monetary policy.
GBP/USD relevant levels
At the moment the pair is retreating 0.30% at 1.4917 and a breakdown of 1.4900 (psychological level) would target 1.4861 (Kijun Sen) en route to 1.4813 (low Apr.16). On the flip side, the initial up barrier lines up at 1.5053 (high Apr.17) followed by 1.5061 (50% of 1.5554-1.4567) and then 1.5065 (55-d MA).