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GBP/USD keeps lows near 1.4530

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is surrendering part of yesterday’s advance and is now dragging GBP/USD to the area of 1.4530/25.

    GBP/USD focus on UK data

    After yesterday’s ephemeral test of the 1.4600 neighbourhood, sellers seem to have returned and are currently pushing spot back to the area of multi-year troughs in the low-1.4500s.

    Interesting day ahead for the sterling in the data space, as Industrial/Manufacturing Production will be published later, followed by the speech by Governor Mark Carney and then the NIESR GDP Estimate.

    GBP/USD important levels

    The pair is now down 0.06% at 1.4536 abd a breakdown of 1.4498 (multi-year lows Jan.11) would expose 1.4346 (low Jun.8 2010) and then 1.4229 (2010 low May 20). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5016 (55-day sma) and finally 1.5159 (100-day sma).
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