28 Nov 2014
GBP/USD keeps falling, around 1.5620
FXStreet (Edinburgh) - The intraday decline in the pound is not giving up at the end of the week, now dragging GBP/USD to the 1.5620/15 band.
GBP/USD in weekly lows
Spot has retreated to multi-day lows in the lower-1.5600s on Friday, as the re-emergence of the greenback hurt the risk-associated assets across the board. In line GDP figures during the third quarter boosted the pound to the 1.5820 neighbourhood in the second half of the week, although a softer risk-on sentiment afterwards coupled with USD dynamics plotted against further improvement. More interesting docket awaits GBP-traders next week, as final PMI prints are due, ahead of the Autumn Forecast Statement on Wednesday and the BoE MPC gathering on Thursday.
GBP/USD relevant levels
At the moment the pair is losing 0.77% at 1.5619 and a breakdown of 1.5600 (psychological level) would aim for 1.5590 (2014 low Nov.19) and then 1.5564 (low Sep.6 2013). On the upside, the initial barrier lines up at 1.5743 (high Nov.28) followed by 1.5826 (high Nov.27) ahead of 1.5887 (30-d MA).
GBP/USD in weekly lows
Spot has retreated to multi-day lows in the lower-1.5600s on Friday, as the re-emergence of the greenback hurt the risk-associated assets across the board. In line GDP figures during the third quarter boosted the pound to the 1.5820 neighbourhood in the second half of the week, although a softer risk-on sentiment afterwards coupled with USD dynamics plotted against further improvement. More interesting docket awaits GBP-traders next week, as final PMI prints are due, ahead of the Autumn Forecast Statement on Wednesday and the BoE MPC gathering on Thursday.
GBP/USD relevant levels
At the moment the pair is losing 0.77% at 1.5619 and a breakdown of 1.5600 (psychological level) would aim for 1.5590 (2014 low Nov.19) and then 1.5564 (low Sep.6 2013). On the upside, the initial barrier lines up at 1.5743 (high Nov.28) followed by 1.5826 (high Nov.27) ahead of 1.5887 (30-d MA).