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GBP/USD offered above 1.53, Eyes hourly 50-MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The GBP/USD was offered at a high of 1.5310 and is now fast approaching the hourly 50-MA located at 1.5265 levels.

    Eyes Fed speak

    The US data calendar does not offer a first tier data release so the focus is on the speeches from Fed’s Bullard and Dudley. The policymakers are likely to indicate the doors are open for a December rate hike.

    Meanwhile, the Kansas City Fed manufacturing activity may have little/no impact on the USD. The pair currently trades around 1.5273 levels. The latest turn lower also marked a failure to sustain above the 50-DMA Located at 1.5303.

    GBP/USD Technical Levels

    The immediate resistance is located at 1.5303 (50-DMA), above which the pair could target 1.5339 (200-DMA). On the other hand, a break below 1.5265 (hourly 50-MA) would open doors for a drop to 1.5248 (50% fib of Apr-Jun rally).
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