GBP/USD trims gains towards 1.5330

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is clinging to daily gains vs. the greenback at the beginning of the week, with GBP/USD hovering over the 1.5330 region.

    GBP/USD following the risk trends

    The pair remains in the positive territory at the beginning of the week against a backdrop of rising risk appetite and profit-taking around the dollar. In the data space, UK’s Mortgage Approvals by BBA have come in on the softer side at 44.489K during September while CBI’s Industrial Trends Survey is due later.

    After an ephemeral test of the support near the vicinity of 1.5300 the figure overnight, spot has managed to pick up pace during the European morning, although the bullish attempt seems to have run out of steam near 1.5350 so far.

    GBP/USD important levels

    As of writing the pair is advancing 0.12% at 1.5332 facing the next hurdle at 1.5394 (55-day sma) ahead of 1.5448 (61.8% Fibo of 1.5658-1.5106) and then 1.5492 (100-day sma). On the downside, a breach of 1.5236 (23.6% Fibo of 1.5658-1.5106) would target 1.5198 (low Oct.13) and finally 1.5185 (6-month uptrend).
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