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GBP/USD keeps gains around 1.5160

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The sterling has recovered from lows near 1.5130 vs. the greenback in the wake of UK releases, with GBP/USD currently hovering over the 1.5160 area.

    GBP/USD bounces off 1.5120/30

    Spot has given away part of the rebound to the 1.5180 area following comments by BoE’s A.Haldane, who has stressed that wage growth in the UK economy remains low and the coming rate hikes will be gradual.

    The pound has lost some upside momentum after results in the UK’s labour market failed to meet market expectations, while it remains poised to follow the broader sentiment in the global markets amidst the inactivity in the US markets.

    GBP/USD levels to watch

    At the moment, the pair is advancing 0.29% at 1.5161 facing the next resistance at 1.5204 (38.2% of 1.5496-1.5023) followed by 1.5233 (7-month uptrend prev. support now resistance) and then 1.5314 (55-day sma). On the other hand, a break below 1.5023 (low Nov.6) would aim for 1.4948 (low Jan.23) and finally 1.4563 (2015 low Apr.13).
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