4 Nov 2015
GBP/USD drops below 1.5400 after US data
FXStreet (Córdoba) - GBP/USD fell below the 1.54 mark as the greenback was underpinned by better than expected employment and trade balance data.
Automatic Data Processing (ADP) reported private sector added 182K new jobs in October, slightly above the 180K expected. Meanwhile, separated data showed US trade deficit shrunk to $40.8 billion in September versus $41.10 expected.
Pound, that was struggling to stay positive, surrendered and fell to a fresh daily low of 1.5393, before the 100-hour SMA offered support. At time of writing, the pair is trading at 1.5395, recording a 0.16% loss on Wednesday.
Focus shifts to remarks from Yellen and several other FOMC members later on the session ahead of the nonfarm payrolls government report due on Friday.
GBP/USD technical levels
On the downside, next supports are seen at 1.5359 (Nov 3 low), 1.5338 (50- and 200-day SMA crossover) and 1.5305/00 (Oct 30 low/psychological level).On the upside, next resistances line up at 1.5476 (100-day SMA), 1.5496 (Nov 2 high) and then 1.5507 (Oct 15 high).
Automatic Data Processing (ADP) reported private sector added 182K new jobs in October, slightly above the 180K expected. Meanwhile, separated data showed US trade deficit shrunk to $40.8 billion in September versus $41.10 expected.
Pound, that was struggling to stay positive, surrendered and fell to a fresh daily low of 1.5393, before the 100-hour SMA offered support. At time of writing, the pair is trading at 1.5395, recording a 0.16% loss on Wednesday.
Focus shifts to remarks from Yellen and several other FOMC members later on the session ahead of the nonfarm payrolls government report due on Friday.
GBP/USD technical levels
On the downside, next supports are seen at 1.5359 (Nov 3 low), 1.5338 (50- and 200-day SMA crossover) and 1.5305/00 (Oct 30 low/psychological level).On the upside, next resistances line up at 1.5476 (100-day SMA), 1.5496 (Nov 2 high) and then 1.5507 (Oct 15 high).