GBP/USD around 1.5250 on UK data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling remains sort of apathetic after UK’s Retail Sales, taking GBP/USD to the mid-1.5200s.

    GBP/USD indifferent after UK data

    The pair keeps the composure after UK Retail Sales have missed expectations during October. In fact, headline sales have contracted 0.6% on a monthly basis, while sales excluding the Fuel component dropped 0.9% inter-month vs. forecasts at -0.5% and -0.5%, respectively.

    Next of relevance for the pair will be US Initial Claims and the Philly Fed manufacturing survey, along with speeches by Fed’s Lockhart and Fischer.

    GBP/USD important levels

    The pair is now up 0.08% at 1.5249 facing the immediate resistance at 1.5310 (55-day sma) followed by 1.5385 (76.4% Fibo of 1.5496-1.5023) and finally 1.5417 (100-day sma). On the flip side, a breach of 1.5135 (23.6% Fibo of 1.5496-1.5023) would aim for 1.5023 (low Nov.6) and then 1.4853 (low Apr.22).
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