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GBP/USD slips to lows near 1.4600

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is now losing the grip vs. the dollar, dragging GBP/USD to test the proximity of 1.4600 the figure, or session lows.

    GBP/USD in multi-month lows

    The weakness around the pound is not giving up for the time being, prompting spot to retreat for the fourth consecutive session and trade in levels last seen in April 2015 in the 1.4600 neighbourhood.

    Absent relevant releases in the UK economy, the main catalysts for the pair will come from the USD-side and the broader risk trends, while tomorrow’s US Non-farm Payrolls emerges as the next big risk event.

    GBP/USD important levels

    The pair is now retreating 0.18% at 1.4605 and a breach of 1.4563 (low Apr.13) would open the door to 1.4500 (psychological level) and then 1.4346 (low Jun.8 2010). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5072 (55-day sma) and finally 1.5240 (high Dec.12).
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