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18 Mar 2015
GBP/USD breaches 1.4700 on UK data
FXStreet (Edinburgh) - The sterling is losing further ground on Wednesday, dragging GBP/USD to another test of the sub-1.4700 level.
GBP/USD weaker on labour releases
The pair is intensifying the decline towards the 1.4680 region following the releases in the UK labour market: the unemployment rate remained unchanged at 5.7% in the three months ended in February while the Claimant Count decreased by 31K vs. 30K expected.
Furthermore, the BoE reiterated its steady stance in today’s minutes, with members voting unanimously to keep the status quo in the monetary policy (refi rate at 0.5% and asset purchase facility at £375 billion).
GBP/USD levels to watch
As of writing the pair is losing 0.47% at 1.4678 with the next support at 1.4646 (low Jun.17 2010) ahead of 1.4600 (psychological level). On the flip side, a break above 1.4811 (100-h MA) would aim for 1.4845 (high Mar.17) and finally 1.4853 (high Mar.16)
GBP/USD weaker on labour releases
The pair is intensifying the decline towards the 1.4680 region following the releases in the UK labour market: the unemployment rate remained unchanged at 5.7% in the three months ended in February while the Claimant Count decreased by 31K vs. 30K expected.
Furthermore, the BoE reiterated its steady stance in today’s minutes, with members voting unanimously to keep the status quo in the monetary policy (refi rate at 0.5% and asset purchase facility at £375 billion).
GBP/USD levels to watch
As of writing the pair is losing 0.47% at 1.4678 with the next support at 1.4646 (low Jun.17 2010) ahead of 1.4600 (psychological level). On the flip side, a break above 1.4811 (100-h MA) would aim for 1.4845 (high Mar.17) and finally 1.4853 (high Mar.16)