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GBP/USD flat-lining around 1.5140

FXStreet (Edinburgh) - The sterling is trading almost unchanged vs. the dollar at the end of the week, with GBP/USD meandering the 1.5140 area.

GBP/USD focus on PMI, NFP

The bearish tone around GBP has been doing nothing but growing in recent weeks, sending spot to trade in levels last seen in April below the 1.5150 level after being rejected from September’s tops in the mid-1.5600s.

The sterling has been losing momentum as market expectations of a rate hike by the Bank of England seems to have dwindled somehow, with investors now placing the first rate hike around mid-2016.

GBP/USD significant levels

As of writing the pair is up 0.06% at 1.5143 with the next resistance at 1.5205 (high Sep.29) followed by 1.5241 (high Sep.28) and finally 1.5263 (high Sep.25). On the flipside, a break below 1.5107 (low Oct.1) would aim for 1.5089 (low May 7) and then 1.5035 (low Apr.24).

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