25 Mar 2015
GBP/USD back below 1.49
FXStreet (Mumbai) - The dollar is catching a fresh bid wave in the early US session, which has pushed the GBP/USD pair back below 1.49 levels.
Cable Trades below 5-DMA
The pair also fell below 5-DMA located at 1.4913. The USD is making a comeback as markets continue to remain forgiving towards a disappointing US data. Moreover, the US 10-year treasury yields have recovered from the low of 1.852% to trade at 1.8775; largely unchanged for the day. Meanwhile, the UK 10-year yield is still trading 3.9 basis points to 1.468%.
GBP/USD Technical Levels
The pair currently trades at 1.4895. The losses could be extended to 1.4949, if it fails to re-take 1.49 handle. On the other hand, the pair could re-test a high of 1.4952, if it manages to rise above the 10-DMA located at 1.4913.
Cable Trades below 5-DMA
The pair also fell below 5-DMA located at 1.4913. The USD is making a comeback as markets continue to remain forgiving towards a disappointing US data. Moreover, the US 10-year treasury yields have recovered from the low of 1.852% to trade at 1.8775; largely unchanged for the day. Meanwhile, the UK 10-year yield is still trading 3.9 basis points to 1.468%.
GBP/USD Technical Levels
The pair currently trades at 1.4895. The losses could be extended to 1.4949, if it fails to re-take 1.49 handle. On the other hand, the pair could re-test a high of 1.4952, if it manages to rise above the 10-DMA located at 1.4913.