GBP/USD bounces off 1.50, FOMC eyed

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After an ephemeral test of sub-1.50 levels, GBP/USD has managed to regain some traction and trade back around 1.5020/25 so far.

    GBP/USD weaker on USD, data

    The pair keeps its negative streak alive this week following today’s mixed results from the UK’s labour market figures, where the jobless rate ticked lower to 5.2% but Claimant Count and Average Earnings have both missed expectations.

    Ahead in the session, spot will remain under pressure in light of the FOMC meeting, where the Committee is expected to announce the first rate hike after nearly a decade of exceptionally low rates.

    GBP/USD important levels

    The pair is now losing 0.06% at 1.5026 with the next support at 1.4954 (low Dec.8) followed by 1.4893 (low Dec.2) and then 1.4853 (low Aprl.21). On the flip side, a breakout of 1.5227 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5322 (200-day sma).
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