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GBP/USD returns below 1.4800

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After reaching session peaks near 1.4820, GBP/USD has now deflated to the 1.4785/80 band amidst some recovery of the greenback.

    GBP/USD buoyant ahead of US docket

    The sterling maintains its daily advance so far in spite of the softer result from UK’s manufacturing PMI during December. However, the initial bid tone seems to remain somehow, supported by favourable risk sentiment and better prints from Mortgage Approvals, Consumer Credit and Net Lending to Individuals.

    Next of relevance for the pair will be US ISM Manufacturing and Markit’s manufacturing PMI during the last month, both expected to come in a tad better from November.

    GBP/USD important levels

    The pair is now advancing 0.34% at 1.4784 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).
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