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5 Dec 2014
GBP/USD regains 1.5650
FXStreet (Edinburgh) - After reaching lows near 1.5620 overnight, GBP/USD managed to pick up pace and is now looking to recover the 1.5650/55 band.
GBP/USD attention to BoE, NFP
The pair has been following the rest of the risk-associated assets in response to the broader USD dynamics, with gains limited around the low-1.5700s and decent weekly support in the 1.5620 area. Ahead in the session, the BoE’s Consumer Inflation Expectations are due preceding the US Payrolls. Recall that market consensus expects the US economy to have created 232K during November. “Key resistance remains at 1.6184, the October 21 high. While capped here, an overall negative bias remains intact”, observed Karen Jones, Head of FICC Technical analysis at Commerzbank.
GBP/USD levels to consider
The pair is now losing 0.18% at 1.5647 facing the next support at 1.5619 (low Dec.3) ahead of 1.5585 (2014 low Dec.1) and finally 1.5564 (low Sep.6 2013). On the upside, a break above 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and then 1.5743 (high Dec.2).
GBP/USD attention to BoE, NFP
The pair has been following the rest of the risk-associated assets in response to the broader USD dynamics, with gains limited around the low-1.5700s and decent weekly support in the 1.5620 area. Ahead in the session, the BoE’s Consumer Inflation Expectations are due preceding the US Payrolls. Recall that market consensus expects the US economy to have created 232K during November. “Key resistance remains at 1.6184, the October 21 high. While capped here, an overall negative bias remains intact”, observed Karen Jones, Head of FICC Technical analysis at Commerzbank.
GBP/USD levels to consider
The pair is now losing 0.18% at 1.5647 facing the next support at 1.5619 (low Dec.3) ahead of 1.5585 (2014 low Dec.1) and finally 1.5564 (low Sep.6 2013). On the upside, a break above 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and then 1.5743 (high Dec.2).