Sterling traded at a better foothold in the beginning of the week, pushing the GBP / USD to test 1.5070 area so far.
GBP / USD found support close to 1.5020
Spot slowly recover part of the sell-off seen last week after the first dovish Bank of England, and both the US Non-Farm Payrolls solid, has been dragged to the 7-month lows in the 1.5020 area.
This week will be dominated by expectations of a Fed rate hike in December and the dynamics of the USD. However, the labor market outcomes wrench and Governor Carney's speech tomorrow ready to keep sterling under supervision, at least in the near future.
Level GBP / USD is concerned
At the moment, the pair is up 0.12% at 1.5071 facing the next resistance at 1.5135 (23.6% of 1.5496 to 1.5023) followed by 1.5227 (uptrend 7 months prior support now resistance ) and then 1.5324 (55-day SMA). On the other hand, a break below 1.5023 (6 November lows) would aim to 1.4948 (January 23 low) and lastly 1.4563 (2015 low on April 13).
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