GBP/USD dips to lows around 1.4440

The sterling is following the rest of its risk-associated peers on their way south on Friday, dragging GBP/USD to daily lows in the 1.4440 area.

GBP/USD upside capped by 1.4500

The pair is snapping a 2-day positive streak today after failing once again to break above the critical 1.4500 handle. Spot has surrendered part of the recent strong gains in response to a better tone surrounding the US dollar and some profit taking sentiment.

Nothing expected in the UK economy, whereas the consumer sentiment gauge tracked by the Reuters/Michigan index is only due in the US calendar. Of note as well will be the speeches by FOMCs Rosengren and Bullard.

GBP/USD levels to consider

As of writing the pair is up 0.26% at 1.4443 and a breakdown of 1.4348 (61.8% Fibo of 1.4670-1.3833) would target 1.4323 (55-day sma) en route to 1.4164 (20-day sma). On the flip side, the next hurdle lines up at 1.4502 (high Mar.17) ahead of 1.4670 (high Feb.4) and finally 1.4948 (high Dec.25 2015).

The sterling is following the rest of its risk-associated peers on their way south on Friday, dragging GBP/USD to daily lows in the 1.4440 area…

(Market News Provided by FXstreet)

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