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Trading news
17 Apr 2015
GBP/USD rises to session high
FXStreet (Mumbai) - The US dollar is being offered once again in the early European session, thereby pushing the GBP/USD pair to a session high of 1.4974.
Uptick contradicts drop in UK yields
The British Pound rallied even though the Gilt yields in the UK ticked lower. The 10-year yield in the UK fell 4.7 basis points (bps) to 1.561%. At the same time, the 10-year yield in the US is moderately lower at 1.869%. Still, the GBP/USD pair inched higher to 1.4974 levels.
Ahead in the day, the pair could be influenced by the employment report in the UK, which is likely to show the unemployment rate dropped further to 5.6% in the quarter to February, while jobless claims are seen falling by 29,500 in March.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5, above which gains could be extended to 1.5050. On the flip side, a break below 1.4940 could drive the pair lower to 1.49 levels.
Uptick contradicts drop in UK yields
The British Pound rallied even though the Gilt yields in the UK ticked lower. The 10-year yield in the UK fell 4.7 basis points (bps) to 1.561%. At the same time, the 10-year yield in the US is moderately lower at 1.869%. Still, the GBP/USD pair inched higher to 1.4974 levels.
Ahead in the day, the pair could be influenced by the employment report in the UK, which is likely to show the unemployment rate dropped further to 5.6% in the quarter to February, while jobless claims are seen falling by 29,500 in March.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5, above which gains could be extended to 1.5050. On the flip side, a break below 1.4940 could drive the pair lower to 1.49 levels.