GBP/USD near 1.50 ahead of UK jobs data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The sterling keeps on the defensive on Wednesday, now dragging GBP/USD to test the 1.5015/10 area, or session lows.

    GBP/USD weaker ahead of UK data

    The pair is losing ground for the third session in a row so far, coming down from last week’s tops in the mid-1.5200s against a backdrop of increasing selling pressure around GBP.

    The British pound will remain under scrutiny today, as UK’s labour market results are due later, followed by the critical FOMC gathering. Market consensus expects the unemployment rate to stay put at 5.3% while the Claimant Count Change is seen at 2.0K for the month of November.

    GBP/USD important levels

    The pair is now losing 0.12% at 1.5015 with the next support at 1.5000 (psychological level) ahead of 1.4954 (low Dec.8) and then 1.4893 (low Dec.2). On the flip side, a breakout of 1.5227 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5322 (200-day sma).

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