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2 Apr 2015
GBP/USD hovers above 1.4800
FXStreet (Córdoba) - Having regained the 1.48 mark amid broad dollar weakness, GBP/USD trades with a slight gain on the day but well within its weekly range.
GBP/USD bottomed out at 1.4775 as the dollar reacted positively to upbeat jobless claims and trade balance data, but quickly bounced toward the 1.4850 zone before finding resistance. GBP/USD is currently trading at the 1.4835 zone, up 0.1% on the day.
Amid low volume and a cautious stance ahead of the nonfarm payrolls report in addition to uncertainty over the UK general elections, the pair has gone through a consolidation phase over the last sessions.
GBP/USD levels to watch
As for technical levels, immediate resistances are seen at 1.4884 (20-day SMA), 1.4900 (Mar 30 high) and 1.4923 (Mar 27 high). On the other hand, supports could be found at 1.4775 (daily low), 1.4738 (Apr 1 low) and 1.4720 (Mar 20 low).
GBP/USD bottomed out at 1.4775 as the dollar reacted positively to upbeat jobless claims and trade balance data, but quickly bounced toward the 1.4850 zone before finding resistance. GBP/USD is currently trading at the 1.4835 zone, up 0.1% on the day.
Amid low volume and a cautious stance ahead of the nonfarm payrolls report in addition to uncertainty over the UK general elections, the pair has gone through a consolidation phase over the last sessions.
GBP/USD levels to watch
As for technical levels, immediate resistances are seen at 1.4884 (20-day SMA), 1.4900 (Mar 30 high) and 1.4923 (Mar 27 high). On the other hand, supports could be found at 1.4775 (daily low), 1.4738 (Apr 1 low) and 1.4720 (Mar 20 low).