GBP/USD rebounds from 1.4600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The British pound have returned to the 1.4640 area vs. the greenback, after GBP/USD briefly tested the 1.4600 handle post-ADP results.

    GBP/USD weaker, FOMC minutes eyed

    Spot keeps the negative bias since Monday backed by a re-emergence of the greenback in the global markets. In addition, poor results from UK’s manufacturing and services PMIs have also added to the selling interest around the sterling.

    Furthermore, the USD-dynamics are poised to dominate the rest of the week in light of today’s FOMC minutes and Non-farm Payrolls on Friday.

    GBP/USD important levels

    The pair is now retreating 0.19% at 1.4642 and a breach of 1.4600 (psychological level) would open the door to 1.4563 (low Apr.13) and then 1.4500 (psychological level). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5000 (psychological level) and finally 1.5087 (55-day sma).
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