GBP/USD hovering over 1.5100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling has left the area of 1.5150 vs. the greenback following US Payrolls today, with GBP/USD now returning to the 1.5100/10 band.

    GBP/USD finds support around 1.5070

    Spot has been following the rest of the risk-associated assets today, trading in a narrow range as cautiousness prevailed prior to US Payrolls. However, gains appear to be limited around 1.5150, session highs in the wake of the ECB meeting on Thursday.

    The next risk event in the UK calendar will be Industrial and Manufacturing Production figures during October (Tuesday) ahead of the BoE’s MPC meeting on Thursday.

    GBP/USD important levels

    The pair is now retreating 0.33% at 1.5101 facing the next support at 1.4893 (low Dec.2) followed by 1.4853 (low Apr.21) and then 1.4563 (low Apr.13). On the upside, a breakout of 1.5160 (high Dec.3) would aim for 1.5248 (55-day sma) and finally 1.5336 (high Nov.9).
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