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3 Apr 2015
GBP/USD might breakout from its range – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, maintains the view that GBP/USD might finally see a breakout from its week-long 1.4740-1.4870 range today.
Key Quotes
“The GBP/USD pair remained stuck in the range of 1.4740-1.4870 for the fourth consecutive session on Thursday. The pair managed to finish above 1.48, despite of a better-than-expected weekly jobless claims data in the US.”
“As we head into the non-farm payrolls release, the pair is likely to remain consolidated around 1.48 levels amid thin volumes”
“Meanwhile, the election uncertainty is likely to cap gains arising out of a weaker-than-expected Us non-farm payrolls report. Sterling 3 month option volatiles are at a 3-year high, but could rise even further ahead of elections.”
“On the charts, we see the pair has been stuck in the range of 1.4740-1.4870 since the beginning of the week. A break above 1.4870 could open doors for 1.5, a level which repeatedly rejected the pair since the release of the March Fed statement.”
“On the other hand, a break below 1.4740, could drive the pair lower to 1.46-1.4610 levels.”
Key Quotes
“The GBP/USD pair remained stuck in the range of 1.4740-1.4870 for the fourth consecutive session on Thursday. The pair managed to finish above 1.48, despite of a better-than-expected weekly jobless claims data in the US.”
“As we head into the non-farm payrolls release, the pair is likely to remain consolidated around 1.48 levels amid thin volumes”
“Meanwhile, the election uncertainty is likely to cap gains arising out of a weaker-than-expected Us non-farm payrolls report. Sterling 3 month option volatiles are at a 3-year high, but could rise even further ahead of elections.”
“On the charts, we see the pair has been stuck in the range of 1.4740-1.4870 since the beginning of the week. A break above 1.4870 could open doors for 1.5, a level which repeatedly rejected the pair since the release of the March Fed statement.”
“On the other hand, a break below 1.4740, could drive the pair lower to 1.46-1.4610 levels.”