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12 Mar 2015
GBP/USD points to 1.5000 post-UK data
FXStreet (Edinburgh) - The sterling remains in the 1.4980/90 band vs. the US dollar on Thursday, with GBP/USD coming down from daily highs near 1.5020.
GBP/USD keeps gains on data
Despite returning to the vicinity of 1.5000, the pair manages to keep the positive ground bolstered by the auspicious trade balance figures in the UK economy: the trade deficit shrunk further than expected to £8.41 billion during January, down from the previous deficit at £9.91 billion.
Next on tap in the UK docket will be the speech by Governor M.Carney ahead of key releases in the US: Retail Sales and Initial Claims.
GBP/USD levels to watch
As of writing the pair is up 0.42% at 1.4994 and a break above 1.5025 (low Mar.8) would expose 1.5077 (23.6% of 1.5554-1.4929) and finally 1.5108 (100-h MA). On the downside, the initial support lines up at 1.4900 (psychological level) ahead of 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).
GBP/USD keeps gains on data
Despite returning to the vicinity of 1.5000, the pair manages to keep the positive ground bolstered by the auspicious trade balance figures in the UK economy: the trade deficit shrunk further than expected to £8.41 billion during January, down from the previous deficit at £9.91 billion.
Next on tap in the UK docket will be the speech by Governor M.Carney ahead of key releases in the US: Retail Sales and Initial Claims.
GBP/USD levels to watch
As of writing the pair is up 0.42% at 1.4994 and a break above 1.5025 (low Mar.8) would expose 1.5077 (23.6% of 1.5554-1.4929) and finally 1.5108 (100-h MA). On the downside, the initial support lines up at 1.4900 (psychological level) ahead of 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).