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GBP/USD eased to 1.4620, focus on NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is alternating gains with losses vs. the dollar on Thursday, sending GBP/USD to the area of 1.420/15.

    GBP/USD muted on UK data

    Spot has paid little attention to the UK’s external sector figures in spite of the trade deficit has widened more than expected to £10.64 billion during November vs. a forecasted deficit of £10.50 billion. The figures however, have bettered October’s £11.2 billion deficit.

    After four consecutive sessions of losses, the pair is finally showing some signs of life after bouncing off yesterday’s multi-year lows at 1.4530. The next risk event for the pair will be the US Non-farm Payrolls, expected at 200K during the month of December.

    GBP/USD important levels

    The pair is now retreating 0.01% at 1.4619 and a breach of 1.4500 (psychological level) would open the door to 1.4346 (low Jun.8 2010). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5072 (55-day sma) and finally 1.5240 (high Dec.12).
    For more information, read our latest forex news.
     

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