8 Apr 2015
GBP/USD strengthens in the Asian session
FXStreet (Mumbai) - The GBP/USD witnessed moderate gains in the Asian session on Wednesday, after having suffered more than 100-pip loss in the previous session despite of a stronger UK services PMI report.
Focus on Fed minutes
At 1.4835, the post-NFP gains have been entirely erased as the GBP suffered losses despite of a better-than-expected services PMI report. Moreover, the US dollar strengthened across the board, along with a rise in the Treasury yields.
The investors are likely to remain focused on the Fed minutes due for release later today. The Halifax house price data in the UK is unlikely to trigger big moves in the pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4849, above which gains could be extended to 1.4878 levels. On the flip side, a break below 1.4820 could drive the prices lower to 1.4749.
Focus on Fed minutes
At 1.4835, the post-NFP gains have been entirely erased as the GBP suffered losses despite of a better-than-expected services PMI report. Moreover, the US dollar strengthened across the board, along with a rise in the Treasury yields.
The investors are likely to remain focused on the Fed minutes due for release later today. The Halifax house price data in the UK is unlikely to trigger big moves in the pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4849, above which gains could be extended to 1.4878 levels. On the flip side, a break below 1.4820 could drive the prices lower to 1.4749.