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GBP/USD trades around 200-DMA, 3-day range intact

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The GBP/USD pair trades around 200-DMA located at 1.5319 levels, but remains stuck in the three-day trading range of 1.53-1.5380.

    Eyes UK CPI

    The investors await the UK CPI, which is expected to show the cost of living stalled in September.The annualised core inflation is expected to have ticked higher. Meanwhile, the movement in the UK oil and mining shares after China trade data could also affect Sterling.

    Ahead in the day, Fed’s Bullard speech and the US NFIB small business optimism index could influence the pair.

    GBP/USD Technical Levels

    The immediate resistance is seen at 1.5380, above which the pair could rise to its 50-DMA located at 1.5421. A break above the same could expose 1.5482 (100-DMA). On the lower side, a break below 1.53 (23.6% of 1.5930-1.5107) would push the spot to 1.5248 (50% of Apr-Jun rally).
    For more information, read our latest forex news.

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