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3 Mar 2015
GBP/USD challenges lows near 1.5350
FXStreet (Edinburgh) - The offered tone in the sterling is growing bigger now, relegating GBP/USD to the proximity of 1.5350, or session lows.
GBP/USD weaker on USD
The pair keeps the negative stance during the first half of the week, now retreating for the fourth consecutive session from recent multi-week tops in the mid-1.5500s. The renewed buying interest around the greenback would be behind today’s decline, looking to consolidate below the 1.5400 handle.
Data wise in the UK docket, Construction PMI improved to 60.1 during February, surpassing both estimates and consensus.
GBP/USD key levels
As of writing the pair is losing 0.06% at 1.5355 with the next support at 1.5324 (38.2% of 1.4952-1.5554) ahead of 1.5317 (low Feb.17) and finally 1.5232 940-d MA). On the flip side, a break above 1.5427 (10-d MA) would target 1.5444 (Tenkan Sen) en route to 1.5459 (high Feb.27).
GBP/USD weaker on USD
The pair keeps the negative stance during the first half of the week, now retreating for the fourth consecutive session from recent multi-week tops in the mid-1.5500s. The renewed buying interest around the greenback would be behind today’s decline, looking to consolidate below the 1.5400 handle.
Data wise in the UK docket, Construction PMI improved to 60.1 during February, surpassing both estimates and consensus.
GBP/USD key levels
As of writing the pair is losing 0.06% at 1.5355 with the next support at 1.5324 (38.2% of 1.4952-1.5554) ahead of 1.5317 (low Feb.17) and finally 1.5232 940-d MA). On the flip side, a break above 1.5427 (10-d MA) would target 1.5444 (Tenkan Sen) en route to 1.5459 (high Feb.27).