forex_managed_account_1

GBP/USD looks to regain 1.5100

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - The sterling is trading on a better footing at the beginning of the week, pushing GBP/USD to test the 1.5070 area so far.

    GBP/USD finds support near 1.5020

    Spot is slowly recovering part of the deep sell-off seen last week after a dovish Bank of England first, and a solid US Non-farm Payrolls later, have dragged it to fresh 7-month lows in the 1.5020 region.

    The week will be dominated by expectations of a Fed’s lift-off in December and USD-dynamics. However, key UK’s labour market results and Governor Carney’s speech tomorrow are poised to keep the sterling under scrutiny, at least in the near term.

    GBP/USD levels to watch

    At the moment, the pair is advancing 0.12% at 1.5071 facing the next resistance at 1.5135 (23.6% of 1.5496-1.5023) followed by 1.5227 (7-month uptrend prev support now resistance) and then 1.5324 (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).
    For more information, read our latest forex news.
     

Share This Page

free forex signals