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GBP/USD keeps lows near 1.4570

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The pound remains on the defensive vs. the greenback during the second half of the week, with GBP/USD now hovering over the 1.4570 area.

    GBP/USD in multi-year lows

    The pair has managed to bounce off fresh 5-year lows in the 1.4560 region, although it remains vulnerable amidst the ongoing turmoil in the global markets and the upcoming events in the US economy.

    There are no further scheduled releases in the UK economy this week, whereas tomorrow’s US Non-farm Payrolls will take centre stage on the USD-side, carrying the potential to drag the pair lower in case of a positive result.

    GBP/USD important levels

    The pair is now retreating 0.40% at 1.4570 and a breach of 1.4500 (psychological level) would open the door to 1.4346 (low Jun.8 2010). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5072 (55-day sma) and finally 1.5240 (high Dec.12).
    For more information, read our latest forex news.
     

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