GBP/USD challenges lows near 1.5140

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is losing the grip vs. the greenback today, with GBP/USD testing session lows in the 1.5150/40 band.

    GBP/USD eyes on UK CPI

    Spot is trading on a softer tone in response to a re-emergence of the buying interest surrounding the greenback at the beginning of the week, all ahead of the crucial FOMC meeting due on Wednesday.

    Back to the UK economy, inflation figures for the month of November are due tomorrow. Consensus expects headline consumer prices to have expanded 0.1% on a yearly basis, reverting the previous contraction.

    GBP/USD important levels

    The pair is now down 0.47% at 1.5154 with the next support at 1.5115 (50% Fibo of 1.5336-1.4893) ahead of 1.5000 (psychological level) and finally 1.4954 (low Dec.8). On the flip side, a breakout of 1.5232 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5322 (200-day sma).
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