XT_Mobile_970x250_XFR
  1. Hello Guest Would you like to receive a FREE $50 No Deposit Bonus ? Check this

GBP/USD off highs, back to 1.4760

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - The British pound is now surrendering part of its initial gains vs. the dollar on Monday, with GBP/USD returning to the 1.4770 neighbourhood.

    GBP/USD a tad weaker after UK data

    Despite the mixed results from the UK docket today, spot remains well bid against a backdrop of a generalized weakness around the US dollar. In fact, after hitting session highs near 1.4780, the pair lost some ground following a weaker-than-expected manufacturing PMI and a lower expansion of the M4 Money Supply during November. On a brighter side, BoE’s Consumer Credit came in at £1.47 billion, Mortgage Approvals at 70.41K and Mortgage Lending at £3.90 billion, all surpassing expectations.

    Next on tap will be US ISM Manufacturing and the manufacturing PMI tracked by Markit during the month of December.

    GBP/USD important levels

    The pair is now advancing 0.26% at 1.4771 with the next up barrier at 1.4947 (high Dec.24) ahead of 1.5000 (psychological level) and finally 1.5102 (55-day sma). On the downside, a breach of 1.4632 (low Mar.18) would open the door to 1.4563 (low Apr.13) and then 1.4500 (psychological level).
    For more information, read our latest forex news.
     

Share This Page

Trade indices Online