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15 Apr 2015
GBP/USD continues to recover
FXStreet (Mumbai) - The GBP/USD pair continues to recover from the low of 1.4699 ahead of the European Central Bank (ECB) meeting.
Pound recovers along with Gilt yields
The British Pound recovered losses, tracking the strength in the Gilt yields. The 10-year yield now trades 3.5 basis points higher 1.551%, while the 30-year yield trades 3.4 basis points higher to 2.299%. Consequently, the pair recovered from the low of 1.4699 to 1.4737.
Given the absence of a fresh economic data out of the UK, the pair is largely mimicking the moves seen in the EUR/USD pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4768, above which gains could be extended to 1.4815. On the flip side, a break below 1.4720 could drive the pair lower to 1.4688 (5-DMA).
Pound recovers along with Gilt yields
The British Pound recovered losses, tracking the strength in the Gilt yields. The 10-year yield now trades 3.5 basis points higher 1.551%, while the 30-year yield trades 3.4 basis points higher to 2.299%. Consequently, the pair recovered from the low of 1.4699 to 1.4737.
Given the absence of a fresh economic data out of the UK, the pair is largely mimicking the moves seen in the EUR/USD pair.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4768, above which gains could be extended to 1.4815. On the flip side, a break below 1.4720 could drive the pair lower to 1.4688 (5-DMA).