Back
12 Mar 2015
GBP/USD kisses the 1.5000 level; What's next?
FXStreet (Tokyo) - The Sterling is trading in recovery mode against the US Dollar and after bouncing off 1.4910, the GBP/USD is now testing the 1.5000 area.
Currently, GBP/USD is trading at 1.5006, up 0.51% on the day, having posted a daily high at 1.5010 and low at 1.4910. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD Forecast
According to Charmer Charts.com analyst Carol Harmer the GBP/USD "might correct towards 1.5030/50," as "if the market is going to correct Reversal Thursday is usually the day that this happens."
Harmer affirms that the GBP/USD "can correct and look for the 1.5030/50 resistance to entice. This is from the 4hrly fib level..Here we may well see profit taking and sellers coming back into the market."
British Pound to US Dollar exchange rate levels
If the pair consolidates above 1.5000, it will find next resistances at 1.5020, 1.5030 and 1.5050. To the downside, supports are at 1.4920, 1.4900 and 1.4880.
Currently, GBP/USD is trading at 1.5006, up 0.51% on the day, having posted a daily high at 1.5010 and low at 1.4910. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD Forecast
According to Charmer Charts.com analyst Carol Harmer the GBP/USD "might correct towards 1.5030/50," as "if the market is going to correct Reversal Thursday is usually the day that this happens."
Harmer affirms that the GBP/USD "can correct and look for the 1.5030/50 resistance to entice. This is from the 4hrly fib level..Here we may well see profit taking and sellers coming back into the market."
British Pound to US Dollar exchange rate levels
If the pair consolidates above 1.5000, it will find next resistances at 1.5020, 1.5030 and 1.5050. To the downside, supports are at 1.4920, 1.4900 and 1.4880.