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14 Apr 2015
GBP/USD rallies above 1.4700 as Fed rate hike expectations pushing back in Q4
FXStreet (Tokyo) - The British Pound is trading higher against the US Dollar after the weak US retail sales and after jumping 90 pips in the latest few minutes, the GBP/USD is testing levels above 1.4700.
The US dollar is trading under pressure following the weaker than expected US retail sales in March as investors are assuming that poor economic data will delay the Fed's first rate hike until the Q4. US continues sending weak economic signals as retail sales rose 0.9% in March, +0.4% ex-autos; well below expectations.
Currently, GBP/USD is trading at 1.4708, up 0.23% on the day, having posted a daily high at 1.4733 and low at 1.4603. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD levels
If the pair consolidates levels above the 1.4700, it will find next resistances at the 200-hour MA level of 1.4755 and then 1.4800 and 1.4820. To the downside, supports are now at 1.4700, 1.4680 and 1.4600.
The US dollar is trading under pressure following the weaker than expected US retail sales in March as investors are assuming that poor economic data will delay the Fed's first rate hike until the Q4. US continues sending weak economic signals as retail sales rose 0.9% in March, +0.4% ex-autos; well below expectations.
Currently, GBP/USD is trading at 1.4708, up 0.23% on the day, having posted a daily high at 1.4733 and low at 1.4603. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD levels
If the pair consolidates levels above the 1.4700, it will find next resistances at the 200-hour MA level of 1.4755 and then 1.4800 and 1.4820. To the downside, supports are now at 1.4700, 1.4680 and 1.4600.