FXStreet (Mumbai) – The GBP/USD pair was offered at 1.4898 in Asia, ensuring the pair remained below 1.49 levels after closing below the same in the previous session.
Hovers below 76.4% Fibo
At the moment, the pair is trading below 1.4888 (76.4% of Apr-Jun rally). The pair closed at 1.4881 levels on Monday after having clocked a high of 1.4930. Prices mimicked the move witnessed on Friday – Uptick in Asia and early Europe, followed by a drop below 1.49 in the US session.
The UK public sector net borrowing figure could turn out to be a non-event ahead of the US Q3 GDP release.
GBP/USD Technical Levels
The immediate support is seen at 1.4865 (Dec 17 low), under which the pair fell to 1.4739 (Apr 1 low). On the other hand, a break above 1.4888 (76.4% of Apr-Jun rally) would expose Monday’s high of 1.4930.
(Market News Provided by FXstreet)