GBP/USD keeps lows ahead of data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling remains in the area of daily lows vs. the dollar, with GBP/USD navigating around 1.5080.

    GBP/USD focus on GDP figures

    The pair’s upside seems to be capped by the 1.5100 mark for the time being amidst increasing selling mood around the British pound ahead of today’s releases. Market participants expect the economy to have expanded 0.5% inter-quarter during Q3 and 2.3% on an annualized basis, leaving no room for surprises from the preliminary readings.

    Nothing expected in the US calendar today, with markets half-open following yesterday’s Thanksgiving Day holiday.

    GBP/USD important levels

    The pair is now losing 0.11% at 1.5081 facing the next support at 1.5023 (low Nov.6) ahead of the psychological mark at 1.5000 and then 1.4853 (low Apr.21). On the flip side, a breakout of 1.5217 (61.8% Fibo of 1.5023-1.5336) would expose 1.5286 (55-day sma) and finally 1.5336 (high Nov.19).
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