GBP/USD drops to lows near 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 sterling is now losing its shine vs. the dollar, dragging GBP/USD to test daily lows in the 1.5060 area.

    GBP/USD eyes on Carney

    The pair is seeing its decline accelerated today in response to an increasing buying interest around the greenback after the opening bell in Europe. Market participants continue to factor in the recent results in the US labour market, as the case for a Fed’s lift-off next week continues to grow bigger and thus supporting the upside momentum in USD.

    Ahead in the session BoE’s M.Carney is expected to speak at the European Parliament ECON Committee, while UK’s Industrial/Manufacturing Production and BoE MPC meeting are all due later in the week.

    GBP/USD important levels

    The pair is now retreating 0.30% at 1.5061 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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