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GBP/USD in fresh highs ahead of Carney, PMI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is recovering part of its shine on Tuesday, now lifting GBP/USD to the area above the 1.5100 handle.

    GBP/USD firmer ahead of data, Carney

    Spot is advancing for the second consecutive session so far, recovering ground lost after an ephemeral test of the 1.4990 area on Monday as USD sellers seem to have returned to the markets.

    Next of relevance for the pair will be Governor M.Carney’s Opening Remarks of the BoE’s Financial Stability Report and UK’s manufacturing PMI for the month of November, expected to ease a tad to 54.0 from 55.5.

    GBP/USD important levels

    The pair is now advancing 0.38% at 1.5119 with the immediate resistance at 1.5164 (50% Fibo of 1.5336-1.4991) ahead of 1.5266 (55-day sma) and finally 1.5336 (high Nov.19). On the other hand, a breakdown of 1.4991 (low Nov.30) would aim for 1.4853 (low Apr.21) and then 1.4563 (low Apr.13).
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