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27 Feb 2015
GBP/USD upside capped at 1.5460
FXStreet (Edinburgh) - The attempt of recovery in GBP/USD seems to have found a tough barrier in the 1.5460 region on Friday.
GBP/USD remains firm
Despite the recent context favouring the greenback, the pound responded well enough as rate hike expectations by the BoE and the solid recovery in the UK economy keep sustaining the upbeat momentum.
Moving forward to next week’s docket in the British economy, the BoE monetary policy meeting and Markit’s Services PMI will be the salient events amongst several other releases.
GBP/USD key levels
At the moment the pair is up 0.19% at 1.5433 with the next hurdle at 1.5500 (psychological level) ahead of 1.5554 (high Feb.26) and finally 1.5588 (2015 high Jan.2). On the flip side, a breakdown of 1.5395 (low Feb.26) would expose 1.5333 (low Feb.23) and finally 1.5323 (21-d MA).
GBP/USD remains firm
Despite the recent context favouring the greenback, the pound responded well enough as rate hike expectations by the BoE and the solid recovery in the UK economy keep sustaining the upbeat momentum.
Moving forward to next week’s docket in the British economy, the BoE monetary policy meeting and Markit’s Services PMI will be the salient events amongst several other releases.
GBP/USD key levels
At the moment the pair is up 0.19% at 1.5433 with the next hurdle at 1.5500 (psychological level) ahead of 1.5554 (high Feb.26) and finally 1.5588 (2015 high Jan.2). On the flip side, a breakdown of 1.5395 (low Feb.26) would expose 1.5333 (low Feb.23) and finally 1.5323 (21-d MA).