1 Dec 2014
GBP/USD supported at 1.5600
FXStreet (Edinburgh) - The sterling found decent support around the 1.5600 level at the beginning of the week, with GBP/USD now marching towards the 1.5625/30 band.
GBP/USD attention to data
The pair is looking to consolidate the recent decline from last week’s peaks in the vicinity of 1.5830, ahead of today’s releases in the UK economy: Consumer Credit, Manufacturing PMI, M4 Money Supply and Mortgage Approvals. “A break of $1.56 targets $1.5540 then $1.5500. We see near-term potential extending toward $1.5425”, noted analysts at BBH.
GBP/USD levels to consider
As of writing the pair is down 0.08% at 1.5625 with the next support at 1.5585 (low Dec.1) ahead of 1.5572 (low Sep.5 2013) and then 1.5555 (low Sep.4). On the upside, a breakout of 1.5826 (high Nov.27) would open the door to 1.5887 (30-d MA) and finally 1.5940 (high Nov.12).
GBP/USD attention to data
The pair is looking to consolidate the recent decline from last week’s peaks in the vicinity of 1.5830, ahead of today’s releases in the UK economy: Consumer Credit, Manufacturing PMI, M4 Money Supply and Mortgage Approvals. “A break of $1.56 targets $1.5540 then $1.5500. We see near-term potential extending toward $1.5425”, noted analysts at BBH.
GBP/USD levels to consider
As of writing the pair is down 0.08% at 1.5625 with the next support at 1.5585 (low Dec.1) ahead of 1.5572 (low Sep.5 2013) and then 1.5555 (low Sep.4). On the upside, a breakout of 1.5826 (high Nov.27) would open the door to 1.5887 (30-d MA) and finally 1.5940 (high Nov.12).