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GBP/USD offered near 1.49

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The GBP/USD pair was offered at 1.4898 in Asia, ensuring the pair remained below 1.49 levels after closing below the same in the previous session.

    Hovers below 76.4% Fibo

    At the moment, the pair is trading below 1.4888 (76.4% of Apr-Jun rally). The pair closed at 1.4881 levels on Monday after having clocked a high of 1.4930. Prices mimicked the move witnessed on Friday – Uptick in Asia and early Europe, followed by a drop below 1.49 in the US session.

    The UK public sector net borrowing figure could turn out to be a non-event ahead of the US Q3 GDP release.

    GBP/USD Technical Levels

    The immediate support is seen at 1.4865 (Dec 17 low), under which the pair fell to 1.4739 (Apr 1 low). On the other hand, a break above 1.4888 (76.4% of Apr-Jun rally) would expose Monday’s high of 1.4930.
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