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15 Apr 2015
GBP/USD bounces-off 1.47
FXStreet (Mumbai) - GBP/USD extends its downslide in the mid-European session, retracing from fresh session lows reached just ahead of 1.47 handle, largely on renewed demand for the greenback after weaker Chinese macro numbers.
GBP/USD slips from 1.4770
The GBP/USD pair trades lower by -0.45% at 1.4716, retreating from fresh session lows of 1.4701 levels. The cable yesterday’s gains and witnessed steep fall in the European session as a fresh bid wave caught the US dollar pushing the greenback higher across the board. The greenback was boosted backed by concerns over Chinese growth outlook after the release of series of poor China data early today.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.47% at 99.47, attempting another run towards 100 marker.
Moreover, the pound remains pressured versus the greenback as traders now shift their attention towards US economic releases later in the day which may have major impact on the cable.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4777 (Today’s High) above which gains could be extended to 1.4805 (April 14 High) levels. On the flip side, support is seen at 1.4700 below which it could extend losses to 1.4680 (April 9 High) levels.
GBP/USD slips from 1.4770
The GBP/USD pair trades lower by -0.45% at 1.4716, retreating from fresh session lows of 1.4701 levels. The cable yesterday’s gains and witnessed steep fall in the European session as a fresh bid wave caught the US dollar pushing the greenback higher across the board. The greenback was boosted backed by concerns over Chinese growth outlook after the release of series of poor China data early today.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades higher by 0.47% at 99.47, attempting another run towards 100 marker.
Moreover, the pound remains pressured versus the greenback as traders now shift their attention towards US economic releases later in the day which may have major impact on the cable.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4777 (Today’s High) above which gains could be extended to 1.4805 (April 14 High) levels. On the flip side, support is seen at 1.4700 below which it could extend losses to 1.4680 (April 9 High) levels.