20 Jan 2015
GBP/USD on its way to 1.5100
FXStreet (Edinburgh) - A bout of risk appetite is now lifting GBP/USD to test session highs around the 1.5100 neighbourhood.
GBP/USD hinges on risk, eyes on BoE
The sterling is following the rest of the risk-associated assets, hurt by the re-emergence of USD buying after yesterday’s inactivity in the US markets. The upcoming sessions will be key for GBP traders, as the BoE will publish its minutes followed by the critical labour market data (Wednesday) ahead of Friday’s Retail Sales. The pound has been suffering the solid performance of the greenback in recent months, but also the rate hike expectations in the UK for the present year seem to have vanished, removing an important driver of GBP-strength.
GBP/USD key levels
The pair is now losing 0.13% at 1.5094 facing the immediate support at 1.5075 (low Jan.16) ahead of 1.5034 (18-m low Jan.8) and finally 1.5028 (low Jul.15 2013). On the flip side, a breakout of 1.5180 (recovery high Jan.19) would aim for 1.5267 (high Jan.15) and then 1.5270 (high Jan.14).
GBP/USD hinges on risk, eyes on BoE
The sterling is following the rest of the risk-associated assets, hurt by the re-emergence of USD buying after yesterday’s inactivity in the US markets. The upcoming sessions will be key for GBP traders, as the BoE will publish its minutes followed by the critical labour market data (Wednesday) ahead of Friday’s Retail Sales. The pound has been suffering the solid performance of the greenback in recent months, but also the rate hike expectations in the UK for the present year seem to have vanished, removing an important driver of GBP-strength.
GBP/USD key levels
The pair is now losing 0.13% at 1.5094 facing the immediate support at 1.5075 (low Jan.16) ahead of 1.5034 (18-m low Jan.8) and finally 1.5028 (low Jul.15 2013). On the flip side, a breakout of 1.5180 (recovery high Jan.19) would aim for 1.5267 (high Jan.15) and then 1.5270 (high Jan.14).