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27 Mar 2015
GBP/USD keeps in red around 1.4820
FXStreet (Edinburgh) - The sterling remains on the back footing vs. the greenback on Friday, with GBP/USD extending the decline to 1.4825/20 band.
GBP/USD bounced off 1.4800
After bottoming out just below the 1.4800 handle overnight, spot managed to gather some traction and is now reclaiming the 1.4830 area. Recall that the pair abruptly dropped from the vicinity of the psychological level at 1.5000 on Thursday following a renewed bid tone around the US dollar.
In another direction, MPC member Ben Broadbent argued that lower consumer prices are positive for the demand while the probability of protracted deflation remains ‘very low’. He added that the MPC remains ready to use unconventional policy if needed.
GBP/USD levels to watch
The pair is down 0.17% at 1.4824 with the immediate support at 1.4799 (low Mar.27) ahead of 1.4689 (low Mar.19) and then 1.4635 957-month low Mar.18). On the other hand, a break above 1.4995 (high Mar.26) would target 1.5008 (high Mar.19) and finally 1.5155 (high Mar.18).
GBP/USD bounced off 1.4800
After bottoming out just below the 1.4800 handle overnight, spot managed to gather some traction and is now reclaiming the 1.4830 area. Recall that the pair abruptly dropped from the vicinity of the psychological level at 1.5000 on Thursday following a renewed bid tone around the US dollar.
In another direction, MPC member Ben Broadbent argued that lower consumer prices are positive for the demand while the probability of protracted deflation remains ‘very low’. He added that the MPC remains ready to use unconventional policy if needed.
GBP/USD levels to watch
The pair is down 0.17% at 1.4824 with the immediate support at 1.4799 (low Mar.27) ahead of 1.4689 (low Mar.19) and then 1.4635 957-month low Mar.18). On the other hand, a break above 1.4995 (high Mar.26) would target 1.5008 (high Mar.19) and finally 1.5155 (high Mar.18).