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GBP/USD near 1.5180 on UK data

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling remained apathetic following the UK data today, with GBP/USD hovering over the 1.5180 area.

    GBP/USD muted on data, eyes on BoE

    The pair kept the daily range after the UK’s trade deficit has widened to £11.82 billion during October, missing previous estimates and down from September’s £9.35 billion.

    Ahead in the session, the more relevant BoE MPC meeting and subsequent minutes are due. Consensus sees the ‘Old Lady’ keeping its monetary status quo – refi rate at 0.5% and Asset Purchase Facility at £375 billion – while the MPC vote is expected at 8-1 in favour of keeping rates unchanged.

    GBP/USD important levels

    The pair is now down 0.07% at 1.5068 with the next support at 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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