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GBP/USD loses altitude, back below 1.51

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is now easing some ground vs. the greenback, taking GBP/USD back to sub-1.5100 levels.

    GBP/USD attention to the US data

    Spot has been initially supported by the offered tone around the US dollar, although a lower-than-expected manufacturing PMI in the British economy has removed some tailwinds from the pound.

    On the other direction, the BoE’s Financial Policy Committee (FPC) has revealed that recent bank stress tests in the UK have not revealed capital shortfall, with only two banks (RBS and Standard Chartered) missing their goals, although they have capital plans already in place.

    GBP/USD important levels

    The pair is now advancing 0.20% at 1.5093 with the immediate resistance at 1.5164 (50% Fibo of 1.5336-1.4991) ahead of 1.5266 (55-day sma) and finally 1.5336 (high Nov.19). On the other hand, a breakdown of 1.4991 (low Nov.30) would aim for 1.4853 (low Apr.21) and then 1.4563 (low Apr.13).
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