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GBP/USD losing altitude post-BoE

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The sterling is now losing the grip vs. the greenback, sending GBP/USD to the area of 1.5150.

    GBP/USD lower on BoE

    The pair has retreated from session highs near 1.5200 the figure after the BoE has left unchanged its monetary policy stance at today’s meeting. The central bank left intact its refi rate at 0.5% and the Asset Purchase Facility at £375 billion, universally in line with market expectations. Further data saw the BoE MPC vote coming in at 8-1 in favour of leaving the monetary status quo intact.

    The BoE minutes argued that current lower oil prices could keep inflation levels subdued, adding that a Fed’s lift-off could weigh on the EM space.

    GBP/USD important levels

    The pair is now down 0.28% at 1.5136 with the next support at 1.5100 (psychological level) ahead of 1.4954 (low Dec.8) ahead of 1.4893 (low Dec.2) and then 1.4853 (low Apr.21). On the flip side, a breakout of 1.5231 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5350 (100-day sma).
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