GBP/USD keeps falling, near 1.5120

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The British pound keeps giving ground at the beginning of the week, now dragging GBP/USD to print fresh daily lows near 1.5120.

    GBP/USD weaker ahead of CPI

    Spot remains on the defensive today, posting 2-day lows and already giving away over a cent from last week’s peaks in the mid-1.5200s. The resurgence of the greenback keeps weighing on GBP sentiment today, being the main driver behind the daily decline.

    Moving forward to Tuesday’s calendar, UK inflation figures are due, with consensus expecting headline consumer prices to have expanded at an annual pace of 0.1% during November.

    GBP/USD important levels

    The pair is now down 0.65% at 1.5127 with the next support at 1.5115 (50% Fibo of 1.5336-1.4893) ahead of 1.5000 (psychological level) and finally 1.4954 (low Dec.8). On the flip side, a breakout of 1.5232 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5322 (200-day sma).

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