Search ForexCrunch

The British pound has been one of the more resilient currencies in the current dollar storm, with cable  keeping away from 1.50, and with  the pound setting new records against the euro as well as other currencies on a daily basis.

But now,  the most recent wave combined with weak UK  manufacturing data, GBP/USD is getting closer to the very round 1.50 level.

The low so far is 1.5008, just 3 pips away. On the way down, the pair lost the 1.5027 level that the pair held on to to earlier.

Can we see a dip under 1.50? The most important line on the downside is 1.48, which was the lowest level seen under current governor Mark Carney.

Carney was actually upbeat about the economy and not too worried about inflation. He saw  through the fall in oil prices and in the recent meeting minutes the members even saw inflation “rising sharply” once the effect of the black gold diminishes.

Yet, the moves depend on expectations regarding the US: the  NFP cemented a removal of forward guidance,  paving the road for a rate hike in June. Markets continue digesting the news and the dollar is moving higher across the board.

Opinion:  GBP/USD: Wedge Breakout; – Goldman Sachs

Here is the chart:

Pound dollar down towards one dollar 50 cents March 11 2015 technical hourly chart GBPUSD


In the fresh podcast, we talk about the US economy,  the Australian and Canadian rate decisions, a potential easing in Japan, the widening gap within oil prices and an update on forex brokers after the SNBomb

Follow us on the    iTunes page