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GBP/USD sidelined below 1.52, Fed eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets at the beginning of the week, taking GBP/USD to the 1.5175/70 band so far.

    GBP/USD focus on Fed close meeting

    The pair is extending its decline from last Friday’s against a backdrop of increasing buying interest around the US dollar. The greenback will be in the limelight today, as market participants will remain vigilant on the Fed’s close meeting, expected during the European evening.

    Data wise in the UK, the most relevant event will be the Financial Stability Report on Thursday and advanced flash GDP figures during the third quarter (Friday).

    GBP/USD important levels

    The pair is now losing 0.14% at 1.5171 with the immediate support at 1.5100 (psychological level) ahead of 1.5097 (23.6% Fibo of 1.5023-1.5336) and then 1.5023 (low Nov.6). On the other hand, a break above 1.5305 (55-day sma) would aim for 1.5336 (high Nov.19) and finally 1.5407 (100-day sma).
    For more information, read our latest forex news.
     

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