21 Jan 2015
GBP/USD bears testing the bulls commitments at 1.5100/5080
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5103 with a high of 1.5181 and a low of 1.5076 and down 0.33% on the day.
GBP/USD is settled in to the 1.51 handle and is oscillating around the figure, facing southerly pressures post the European markets supply of Sterling in the aftermath of UK events. The BoE came in an unanimous this time around, sticking with rates at 0.5% and their asset purchases at £375 billion while analysts are continuing to back off from expectations of a rate rise for this year. Meanwhile, the UK's claimant count and the unemployment numbers were better news, with 5.8% vs 5.9% expected and -29.7k vs-25.0K expected.
The market's bearishness is increasing around Sterling, while the US continues to attract investment and flows into the US dollar. Technically, The the psychological support comes in circa 1.5000 and then beyond there, 1.4910/1.4813 acts as the long term Fibo of the 2013 low.
GBP/USD is settled in to the 1.51 handle and is oscillating around the figure, facing southerly pressures post the European markets supply of Sterling in the aftermath of UK events. The BoE came in an unanimous this time around, sticking with rates at 0.5% and their asset purchases at £375 billion while analysts are continuing to back off from expectations of a rate rise for this year. Meanwhile, the UK's claimant count and the unemployment numbers were better news, with 5.8% vs 5.9% expected and -29.7k vs-25.0K expected.
The market's bearishness is increasing around Sterling, while the US continues to attract investment and flows into the US dollar. Technically, The the psychological support comes in circa 1.5000 and then beyond there, 1.4910/1.4813 acts as the long term Fibo of the 2013 low.