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GBP/USD depressed around 1.5030 ahead of FOMC

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The bearish sentiment is not giving up on the sterling today, taking GBP/USD to the low-1.5000s after a brief test of the 1.4990/85 band.

    GBP/USD consolidates as Fed looms

    Mixed results from UK’s labour market during last month was insufficient to spark some buying interest around the sterling, which is extending its negative streak to the third session so far after hitting recent peaks near 1.5250.

    Next on tap will be the FOMC meeting, with market expectations of a (50 bp?) rate hike after almost a decade of exceptionally low rates remains firm.

    GBP/USD important levels

    The pair is now losing 0.04% at 1.5030 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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