Back
6 May 2015
GBP/USD supported at 1.5150
FXStreet (Edinburgh) - The sterling seems to have found some respite around the 1.5150 level on Wednesday, with GBP/USD now looking to regains the 1.5180 area.
GBP/USD a tad better post-PMI
The pair bounced off the mid-1.5100s after the final Services PMI for the month of April improved to 59.5 vs. 58.5 forecasted and up from March’s 58.9. Spot thus halted the intraday correction lower after losing around a big-figure since overnight tops near 1.5250.
While election jitters continue to drive the pair’s price action, April’s ADP report (200K exp.) in the US economy will add some pressure from the USD-side of the equation.
GBP/USD relevant levels
At the moment the pair is losing 0.01% at 1.5177 with the immediate support at 1.5150 (low May 6) followed by 1.5100 (psychological level) and finally 1.5095 (daily cloud top). On the flip side, a break above 1.5243 (high May 6) would aim for 1.5293 (50% of 1.5498-1.5088) and then 1.5397 (high May 1).
GBP/USD a tad better post-PMI
The pair bounced off the mid-1.5100s after the final Services PMI for the month of April improved to 59.5 vs. 58.5 forecasted and up from March’s 58.9. Spot thus halted the intraday correction lower after losing around a big-figure since overnight tops near 1.5250.
While election jitters continue to drive the pair’s price action, April’s ADP report (200K exp.) in the US economy will add some pressure from the USD-side of the equation.
GBP/USD relevant levels
At the moment the pair is losing 0.01% at 1.5177 with the immediate support at 1.5150 (low May 6) followed by 1.5100 (psychological level) and finally 1.5095 (daily cloud top). On the flip side, a break above 1.5243 (high May 6) would aim for 1.5293 (50% of 1.5498-1.5088) and then 1.5397 (high May 1).