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GBP/USD sidelined below 1.52, Fed eyed

FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets at the beginning of the week, taking GBP/USD to the 1.5175/70 band so far.

GBP/USD focus on Fed close meeting

The pair is extending its decline from last Friday’s against a backdrop of increasing buying interest around the US dollar. The greenback will be in the limelight today, as market participants will remain vigilant on the Fed’s close meeting, expected during the European evening.

Data wise in the UK, the most relevant event will be the Financial Stability Report on Thursday and advanced flash GDP figures during the third quarter (Friday).

GBP/USD important levels

The pair is now losing 0.14% at 1.5171 with the immediate support at 1.5100 (psychological level) ahead of 1.5097 (23.6% Fibo of 1.5023-1.5336) and then 1.5023 (low Nov.6). On the other hand, a break above 1.5305 (55-day sma) would aim for 1.5336 (high Nov.19) and finally 1.5407 (100-day sma).

Fed is likely to achieve its inflation target – RBC CM

Research Team at RBC Capital Markets, notes that the US core CPI for October printed a firm +0.2% on the month and left the y/y pace at +1.9%–the 3-month run rate rose to +2.0% from +1.7%.
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German PMI preview: What to expect of EUR/USD?

The EUR/USD pair is trading around Friday’s low at 1.0620 after having clocked a session low of 1.06 in Asia. The immediate focus now is on the preliminary November German PMI report due later today.
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