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GBP/USD better bid around 1.4450

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - It seems the British pound is seeing some light at the end of the tunnel, today lifting GBP/USD to the area of 1.4455/60 ahead of the European open.

    GBP/USD rebounds from multi-year lows

    The sterling has advanced around a cent vs. the US dollar after dropping to levels last seen in June 2010 near 1.4350 on Tuesday. The sharp decline has been fueled by wider yield spreads between Gilts and US Treasuries in the short-end of the curve, along with a better sentiment surrounding the greenback.

    Nothing expected data wise in the UK, whereas speeches by Fed’s Evans and Rosengren plus the Beige Book will be in the limelight across the Atlantic.

    GBP/USD key levels

    The pair is now advancing 0.11% at 1.4455 and a breakdown of 1.4352 (low Jan.12) would expose 1.4346 (low Jun.8 2010) and then 1.4229 (2010 low May 20). On the flip side, the next resistance aligns at 1.4947 (high Dec.24) ahead of 1.5012 (55-day sma) and finally 1.5157 (100-day sma).
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