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GBP/USD regains the 1.4650 area

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - It seems the sterling has found some buying interest around 1.4620 vs. the greenback, with GBP/USD now rebounding to the 1.4650/55 band.

    GBP/USD supported near 1.4620

    The better sentiment around the dollar plus a weaker Services PMI in the UK economy during the last month have sent spot to test fresh lows in the 1.4620 area, although buyers around that level have turned up and sent it higher to the mid-1.4600s so far.

    Ahead in the session, the US ADP report is due (192K exp.) ahead of Factory Orders, ISM Non-manufacturing and the FOMC minutes.

    GBP/USD important levels

    The pair is now retreating 0.12% at 1.4651 and a breach of 1.4632 (low Mar.18) 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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