1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

GBP/USD awaits key impetus from UK data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Guatemala) - GBP/USD is currently trading at 1.5203 with a high of 1.5235 and a low of 1.5180.

    GBP/USD remains pressured below the 200 SMA on the daily chart at 1.5342 and recovery attempts have flattened with a lack of momentum into a phase of consolidation while markets are awaiting clarification this week that indeed upside pressures will follow through in the economy with retails sales and October CPI's. The consensus is that the Boe may be forced to start hiking rates next year and follow the US's lead in normalising their interest rate policies. The US brings us the FOMC minutes and CPI this week and these will also be key components that could kick the major into gear one way or the other.

    GBP/USD levels

    Technically, while trading below the pivot of 1.5228 the major is coming with a bearish bias and recoveries are short lived failing to get above the key 1.5220 resistance with pressures mounted at the 20 DMA at 1.5289 and just below R2 at 1.5305. Continued failures here will open up the 1.50 handle again.
    For more information, read our latest forex news.
     

Share This Page