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9 Apr 2015
GBP/USD falls below 1.48
FXStreet (Mumbai) - The GBP/USD pair was pushed back below 1.48 levels after the data showed initial jobless claims in the US rose less than forecast.
Weak Gilt yields weigh over Pound
The pair fell from 1.4830 to 1.4791 levels after the data in the US showed initial jobless claims in the last week rose 282K, compared to the gain of 285K. Moreover, the British Pound lacks support from the UK gilt yields. The 10-year yield in the UK is down 4.1 basis points to 1.54%. Meanwhile, the 10-year yield in the US is trading largely flat.
GBP/USD Technical Levels
The immediate support is seen at 1.4738, under which losses could be extended to 1.4633. On the flip side, a break above 1.4849 could drive the pair higher to 1.4920.
Weak Gilt yields weigh over Pound
The pair fell from 1.4830 to 1.4791 levels after the data in the US showed initial jobless claims in the last week rose 282K, compared to the gain of 285K. Moreover, the British Pound lacks support from the UK gilt yields. The 10-year yield in the UK is down 4.1 basis points to 1.54%. Meanwhile, the 10-year yield in the US is trading largely flat.
GBP/USD Technical Levels
The immediate support is seen at 1.4738, under which losses could be extended to 1.4633. On the flip side, a break above 1.4849 could drive the pair higher to 1.4920.