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13 Mar 2015
GBP/USD consolidates around 1.4875, MPC Shafik’s speech await
FXStreet (Mumbai) - GBP/USD bounced-off from fresh twenty month lows and traded mildly lower in the mid-European session, as traders now await speech by MPC member Minouche Shafik.
GBP/USD recovers
The GBP/USD pair trades flat at 1.4870, rebounding from fresh twenty month lows of 1.4845 levels. The cable recovered most losses as the US dollar took a breather in its rally and retreated from session against most of its major peers.
The pound remains cautious versus the US dollar as Bank of England MPC members Minouche Shafik is scheduled to speak shortly, following important speeches by Governor Mark Carney and MPC member Martin Weale.
Meanwhile, in absence of any significant GBP data, traders will now turn their attention towards US economic releases later in the day for further momentum on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4893 above which gains could be extended to 1.4920 levels. On the flip side, support is seen at 1.4800 (Jul 2013) levels below which it could extend losses to 1.4780 levels.
GBP/USD recovers
The GBP/USD pair trades flat at 1.4870, rebounding from fresh twenty month lows of 1.4845 levels. The cable recovered most losses as the US dollar took a breather in its rally and retreated from session against most of its major peers.
The pound remains cautious versus the US dollar as Bank of England MPC members Minouche Shafik is scheduled to speak shortly, following important speeches by Governor Mark Carney and MPC member Martin Weale.
Meanwhile, in absence of any significant GBP data, traders will now turn their attention towards US economic releases later in the day for further momentum on the major.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4893 above which gains could be extended to 1.4920 levels. On the flip side, support is seen at 1.4800 (Jul 2013) levels below which it could extend losses to 1.4780 levels.