GBP/USD breaks below 1.5000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling keeps depreciating vs. the greenback on Tuesday, now sending GBP/USD to test sub-1.5000 levels, or session lows.

    GBP/USD lower on data, USD

    The greenback keeps recovering ground lost in early trade, collaborating with today’s selling pressure around the pair. In addition, mixed results from UK’s Manufacturing and Industrial Production during October have failed to curb the offered tone around GBP, accentuating the downbeat sentiment.

    Ahead in the session, UK’s NIESR GDP Estimate is due, while JOLTS Job Openings and the IBD/TIPP Economic Optimism are only expected across the pond.

    GBP/USD important levels

    The pair is now retreating 0.36% at 1.4998 facing the next support at 1.4893 (low Dec.2) and then 1.4853 (low Apr.21). On the upside, a breakout of 1.5160 (post-ECB high Dec.3) would aim for 1.5231 (55-day sma) and finally 1.5336 (high Nov.9).
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