7 Apr 2015
GBP/USD dips to lows post-PMI
FXStreet (Edinburgh) - The sterling is now losing the grip vs. the US dollar, sending GBP/USD to test daily lows in the 1.4850/45 area.
GBP/USD weaker despite UK data
The pair is following its risk-associated peers downwards despite UK’s Services PMI tracked by Markit surprised investors to the upside in March, coming in at 58.9 vs. 57.0 forecasted and up from February’s 56.7.
The weakness is now more evident around the pound amidst a renewed buying interest around the greenback, with spot coming down from session peaks around 1.4920.
GBP/USD levels to consider
At the moment the pair is down 0.22% at 1.4846 and a break below 1.4812 (low Apr.3) would expose 1.4800 (psychological level) and then 1.4775 (low Apr.2). On the upside, the initial hurdle lines up at 1.4981 (high Apr.6) ahead of 1.4995 (high Mar.26) and then 1.5008 (high Mar.19).
GBP/USD weaker despite UK data
The pair is following its risk-associated peers downwards despite UK’s Services PMI tracked by Markit surprised investors to the upside in March, coming in at 58.9 vs. 57.0 forecasted and up from February’s 56.7.
The weakness is now more evident around the pound amidst a renewed buying interest around the greenback, with spot coming down from session peaks around 1.4920.
GBP/USD levels to consider
At the moment the pair is down 0.22% at 1.4846 and a break below 1.4812 (low Apr.3) would expose 1.4800 (psychological level) and then 1.4775 (low Apr.2). On the upside, the initial hurdle lines up at 1.4981 (high Apr.6) ahead of 1.4995 (high Mar.26) and then 1.5008 (high Mar.19).