GBP/USD depressed around 1.5060

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The British pound remains entrenched in the negative ground at the beginning of the week, with GBP/USD testing session lows in the mid-1.50s so far.

    GBP/USD sold off on USD-buying

    The renewed tone around USD following last Friday’s Payrolls keeps weighing on the risk-associated assets today, relegating spot to trade in session lows in the 1.5070/60 band and giving away part of last week’s advance.

    BoE’s M.Carney will speak at the European Parliament ECON Committee later in the session, while the Fed’s Labor Market Conditions Index is due in the US economy.

    GBP/USD important levels

    The pair is now retreating 0.23% at 1.5071 facing the next support at 1.5000 (psychological level) followed by 1.4893 (low Dec.2) and then 1.4853 (low Apr.21). On the upside, a breakout of 1.5160 (high Dec.3) would aim for 1.5235 (55-day sma) and finally 1.5336 (high Nov.9).
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