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3 Apr 2015
GBP/USD consolidates above 1.4820
FXStreet (Mumbai) - GBP/USD trades muted in the European morning, extending its directionless trend in to the fourth straight session as markets anticipate US NFP data to set a clear tone for the major.
GBP/USD retraces from 1.4841
The GBP/USD pair trades flat at 1.4836, locked between a 20 pips narrow range. The cable trades around a flat line this morning amid a data dry EUR, GBP calendar as European markets remain closed in observance of Good Friday.
The British pound continues to trade mixed versus the US dollar, forming continuous doji candles on the daily chart for the third day in a row, reflecting a major breakout on either is expected on the release of key non-farm payrolls and unemployment rate from the US.
GBP/USD traded mixed in the previous session amid uncertainty about Friday's payrolls and as markets ignored UK construction data which ticked down to 57.8 in March, from February's 60.1, while it was expected to edge to 59.8.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4841 (Today’s High) above which gains could be extended to 1.4872 (April 2 High) levels. On the flip side, support is seen at 1.4800 levels below which it could extend losses to 1.4774 (April 2 Low) levels.
GBP/USD retraces from 1.4841
The GBP/USD pair trades flat at 1.4836, locked between a 20 pips narrow range. The cable trades around a flat line this morning amid a data dry EUR, GBP calendar as European markets remain closed in observance of Good Friday.
The British pound continues to trade mixed versus the US dollar, forming continuous doji candles on the daily chart for the third day in a row, reflecting a major breakout on either is expected on the release of key non-farm payrolls and unemployment rate from the US.
GBP/USD traded mixed in the previous session amid uncertainty about Friday's payrolls and as markets ignored UK construction data which ticked down to 57.8 in March, from February's 60.1, while it was expected to edge to 59.8.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.4841 (Today’s High) above which gains could be extended to 1.4872 (April 2 High) levels. On the flip side, support is seen at 1.4800 levels below which it could extend losses to 1.4774 (April 2 Low) levels.