GBP/USD flat around 1.5310, focus on BoE

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is trading almost unchanged vs. the dollar on Thursday, with GBP/USD hovering over the 1.5310/15 band so far.

    GBP/USD attention to the BoE

    The pound is looking to extend its winning streak for the third consecutive session so far, prolonging its rebound from recent lows in the 1.5100 neighborhood vs. the greenback and at the same time taking spot to challenge fresh 2-week tops.

    Later in the session, the BoE will hold its MPC meeting and it will publish its minutes. Market expectations see another 8-1 vote favouring a steady stance from the central bank, with the refi rate at 0.5% and the asset purchase facility at 3375 billion.

    GBP/USD important levels

    As of writing the pair is losing 0.02% at 1.5316 and a break below 1.5137 (low Oct.5) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5). On the flip side, the next hurdle lines up at 1.5347 (200-d sma) followed by 1.5400 (psychological level) and finally 1.5443 (Fibo 38.2% of 1.5658-1.5107).
    For more information, read our latest forex news.

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