GBP/USD off highs, back to 1.5060
GBP/USD bounces off 1.4950
Spot keeps recovering ground after bottoming out in the mid-1.4900s during yesterday’s session. The selling pressure around the sterling has been growing bigger following the ECB-induced tops near 1.5160, although buyers seem to have turned up around 1.4950, Tuesday’s troughs.
Ahead in the week, the BoE’s ‘Super Thursday’ is next on tap along with October’s trade balance figures in the UK economy.
GBP/USD important levels
The pair is now advancing 0.34% at 1.5060 and a surpass of 1.5160 (post-ECB high Dec.3) would target 1.5230 (55-day sma) en route to 1.5336 (high Nov.9). On the other hand, the next support lines up at 1.4954 (low Dec.8) ahead of 1.4893 (low Dec.2) and then 1.4853 (low Apr.21).
What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too.