GBP/USD strengthens in Asia, Eyes Carney testimony

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The GBP/USD pair ticked higher in Asia to near 1.5140 after having suffered sharp losses in the previous two trading days.

    Focus on inflation report hearings

    Bank of England Governor (BOE) Mark Carney is scheduled to testify to UK legislators on the Treasury Committee about the central bank's latest Inflation report. Comments on inflation and on the timing of the BOE liftoff could influence Sterling pairs.

    Across the pond, the US Q3 GDP figure would hit the wires later today, which will be followed by the US consumer confidence and the regional manufacturing index.

    GBP/USD Technical Levels

    At 1.5133, the immediate resistance is seen at 1.5185 (23.6% of July 2014-April 2015 plunge), above which the gains could be extended to 1.5248 (50% of Apr-Jun rally). On the other side, support is seen at 1.087 (61.8% of Apr-Jun), under which the losses could be extended to 1.5027 (Nov 6 low).
    For more information, read our latest forex news.

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