Disappointing Chicago PMI and pending home sales data weighed on the dollar, sending GBP/USD to a session peak of 1.3945, before the 100-hour SMA offered resistance. At time of writing, the pair is at 1.3905, up 0.23% on the day.
GBP/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.3945 (Feb 29 high), 1.4041 (Feb 26 high) and 1.4114 (10-day SMA). On the flip side, supports could be faced at 1.3835 (7-year low, Feb 29), 1.3653 (monthly low March 2009) and 1.3502 (monthly low January 2009).
(Market News Provided by FXstreet)