8 Apr 2015
GBP/USD hits session high of 1.4901
FXStreet (Mumbai) - The offered tone on the USD got more pronounced in the early European session, which helped the GBP/USD pair set a new session high of 1.4901, before easing to 1.4886 levels.
USD offered
The USD is being sold across the board in the early European session amid the absence of fresh fundamental triggers. No action from the Bank of Japan, a widely expected outcome, led to a mild appreciation in the Japanese Yen against the US dollar. Apart from that, the broad based sell-off cannot be attributed to any major trigger.
The European calendar is thin, with just EUR retail sales due for release. A major trigger - Fed minutes – is due in the US session later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.49, above which gains could be capped at 1.4943. On the flip side, a break below 1.4849 could drive the pair lower to 1.48 levels.
USD offered
The USD is being sold across the board in the early European session amid the absence of fresh fundamental triggers. No action from the Bank of Japan, a widely expected outcome, led to a mild appreciation in the Japanese Yen against the US dollar. Apart from that, the broad based sell-off cannot be attributed to any major trigger.
The European calendar is thin, with just EUR retail sales due for release. A major trigger - Fed minutes – is due in the US session later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.49, above which gains could be capped at 1.4943. On the flip side, a break below 1.4849 could drive the pair lower to 1.48 levels.