GBP/USD weaker, challenging 1.5000

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After a failed attempt to retake the 1.5030 area, GBP/USD has now returned to the vicinity of the psychological 1.5000 handle.

    GBP/USD in 7-month lows

    The demand for GBP remains depressed today, in line with the offered tone prevailing in the rest of the risk-associated universe amidst increasing buying interest around the US dollar.

    Data wise in the UK economy, M4 Money Supply has expanded at a monthly pace of 0.6%, while Consumer Credit and Mortgage Approvals have come in short of estimates during October.

    GBP/USD important levels

    The pair is now losing 0.21% at 1.5009 facing the next support at 1.5000 ahead of 1.4853 (low Apr.21) and finally 1.4563 (low Apr.13). On the flip side, a breakout of 1.5137 (high Nov.25) would open the door to 1.5272 (55-day sma) and finally 1.5336 (high Nov.19).
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