OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD retreats from 1.5200

FXstreet.com (Barcelona) - After peaking in the boundaries of the key resistance at 1.5200 on Thursday, the sterling commenced a correction lower to the current area of 1.5150.

There are no major drivers for the GBP price action in the UK, as market participants have fully digested the improvement of the house prices gauged by Nationwide. The US docket emerges then with the ability to weight on the pair via the greenback, as the US GDP Annualized is due followed by the weekly report on the labour market and Pending Home Sales.

At the time of writing GBP/USD is advancing 0.11% at 1.5147 with the next barrier up at 1.5270 (MA55d) followed by 1.5281 (high May 20) and finally 1.5331 (high May 14). On the flip side, a break below 1.5015 (76.4% of 1.4832-1.5607) would clear the way to 1.50088 (low May 29) en route to 1.4915 (low Mar.14).

Flash: US data takes center stage amidst specter of Fed-tapering – Deutsche Bank

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Looking at the day ahead we suspect government bond markets will continue to be the main focus for investors.”
Read more Previous

Flash: Gradual QE tapering more favourable - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ comments that Boston Fed President Rosengren noted that a gradual tapering of QE would likely be more desirable than an abrupt end to purchases.
Read more Next
Start livechat