Back
11 Sep 2015
GBP/USD eases to 1.5440
FXStreet (Edinburgh) - The sterling is navigating a tight range vs. the greenback at the end of the week, taking GBP/USD to the 1.5440 area.
GBP/USD consolidating above 1.5400
The pair is looking to cement the recent breakout of the 1.5400 handle backed by the recent BoE stance, leaving its monetary policy unchanged and talking down the impact of overseas developments – particularly China – on the UK economy. Market expectations for a rate hike by the ‘Old Lady’ remain well anchored around Q12016.
In the data space, Consumer Inflation Expectations is only due in the British economy, while Producer Prices and the Reuters/Michigan index are due across the pond.
GBP/USD levels to watch
As of writing the pair is advancing 0.01% at 1.5446 with the next resistance at 1.54664 (high Sep.11) ahead of 1.5476 (high Sep.10) and then 1.5505 (high Aug.27). On the other hand, a break below 1.5270 (low Sep.8) would open the door to 1.5150 (low May 6) and finally 1.5089 (low May 5).
GBP/USD consolidating above 1.5400
The pair is looking to cement the recent breakout of the 1.5400 handle backed by the recent BoE stance, leaving its monetary policy unchanged and talking down the impact of overseas developments – particularly China – on the UK economy. Market expectations for a rate hike by the ‘Old Lady’ remain well anchored around Q12016.
In the data space, Consumer Inflation Expectations is only due in the British economy, while Producer Prices and the Reuters/Michigan index are due across the pond.
GBP/USD levels to watch
As of writing the pair is advancing 0.01% at 1.5446 with the next resistance at 1.54664 (high Sep.11) ahead of 1.5476 (high Sep.10) and then 1.5505 (high Aug.27). On the other hand, a break below 1.5270 (low Sep.8) would open the door to 1.5150 (low May 6) and finally 1.5089 (low May 5).