20 Mar 2015
GBP/USD hovers near lows below 1.4725
FXStreet (Mumbai) - GBP/USD inched closer towards the 1.47 handle in the European session, resuming its downslide from the US last session, as traders continue to weigh Bank of England’s (BOE) chief economist Haldane’s dovish remarks.
UK data in focus
The GBP/USD pair trades lower by -0.17% at 1.4728, hovering close to fresh session lows posted at 1.4722 some time ago. The cable remains pressured digesting BOE Haldane’s comments that, the chances that the central bank will cut or raise the base interest rate are broadly evenly balanced.
Meanwhile, traders now await UK Public sector borrowings data for further cues, in absence of any major economic releases for the pair later in the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4777 (Today’s High) above which gains could be extended to 1.4800 levels. On the flip side, support is seen at 1.4722 (Today’s Low) levels below which it could extend losses to 1.4700 levels.
UK data in focus
The GBP/USD pair trades lower by -0.17% at 1.4728, hovering close to fresh session lows posted at 1.4722 some time ago. The cable remains pressured digesting BOE Haldane’s comments that, the chances that the central bank will cut or raise the base interest rate are broadly evenly balanced.
Meanwhile, traders now await UK Public sector borrowings data for further cues, in absence of any major economic releases for the pair later in the day.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4777 (Today’s High) above which gains could be extended to 1.4800 levels. On the flip side, support is seen at 1.4722 (Today’s Low) levels below which it could extend losses to 1.4700 levels.