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Dec 09, 2016

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Market Analysis

Home » Charts » Mar. 18, 2015: GBPUSD Trading Near Session Lows

Mar. 18, 2015: GBPUSD Trading Near Session Lows

Posted by FXTimes in Charts - March 17th, 2015 3:58 pm GMT

The GBPUSD fell nearly 100 pips in the North American session, hitting a daily low of 1.4727. The pair would subsequently consolidate at 1.4743, declining around 80 pips. The GBPUSD is eyeing initial support at 1.4683 and resistance at 1.4878.

The 1 hour chart points to downward momentum on the MACD.  The RSI is also trending downward and is approaching oversold levels.

 

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The market is preparing for an active Wednesday session that features UK employment data, Bank of England meeting minutes and the US Federal Open Market Committee (FOMC) rate statement.

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