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3 Apr 2015
GBP/USD drops in choppy trade
FXStreet (Mumbai) - The British Pound weakened in a quiet day of trade, taking the GBP/USD pair below 1.4820 levels, which is also a 61.8% Fib retracement of the move from 1.4633-1.5122.
GBP/USD: Awaits Non-farm payrolls data
The pair awaits the US March non-farm payrolls report, which is likely to show the US economy added 245K jobs compared to 295K additions see in February. The pair clocked a high of 1.4839, before falling below the 5-DMA located at 1.4822.
The pair has been stuck largely in the range of 1.4870 to 1.4740 since the beginning of the current week. A breakout from the range could be expected after the release of the payrolls data in the US later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4820, above which gains could be extended to 1.4870. On the flip side, a break below 1.48 could push the pair lower to 1.4749.
GBP/USD: Awaits Non-farm payrolls data
The pair awaits the US March non-farm payrolls report, which is likely to show the US economy added 245K jobs compared to 295K additions see in February. The pair clocked a high of 1.4839, before falling below the 5-DMA located at 1.4822.
The pair has been stuck largely in the range of 1.4870 to 1.4740 since the beginning of the current week. A breakout from the range could be expected after the release of the payrolls data in the US later today.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4820, above which gains could be extended to 1.4870. On the flip side, a break below 1.48 could push the pair lower to 1.4749.