GBP/USD in red above 1.5200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets at the beginning of the week, taking GBP/USD to the low-1.5200s so far.

    GBP/USD focus on CPI figures

    As markets continue to digest last Friday’s events in France, the pair remains in the negative territory amidst a prevailing wave of risk aversion ahead of the opening bell in Europe.

    Nothing worth mentioning data wise in the UK, while October’s inflation figures will take centre stage tomorrow. Across the pond, the regional manufacturing gauge tracked by the NY Empire State Building Index is due, expected at -5.0 for the current month.

    GBP/USD important levels

    The pair is now losing 0.11% at 1.5213 facing the immediate support at 1.5135 (23.6% Fibo of 1.5496-1.5023) followed by 1.5023 (low Nov.6) and then 1.4853 (low Apr.22). On the other hand, a breakout of 1.5256 (7-month uptrend prev. support now resistance) would expose 1.5316 (61.8% Fibo of 1.5496-1.5023) and finally 1.5344 (200-day sma).
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