GBP/USD hits session high above 1.49

Omkar Godbole FXStreet Contributor

FXStreet (Mumbai) - The GBP/USD pair extended gains to hit a session high of 1.4912 on the back of hawkish comments from the Bank of England’s (BOE) Carney and Broadbent.

GBP/USD: Will it sustain above 1.49?

At the moment the pair is flirting with 1.49 levels. The US Q4 GDP data due for release in few minutes could decide further moves in the pair. Given the hawkish comments from the BOE officials today, the British Pound could turn out to be an outperformer in case the US GDP prints lower than consensus estimates. On the other hand, a positive GDP surprise, could drive the pair back below 1.49.

GBP/USD Technical Levels

The immediate resistance is seen at 1.4952, above which the pair could rise to 1.50 levels. On the flip side, a failure to sustain above 1.49 could drive the pair lower to 1.4850 levels.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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