17 Dec 2014
GBP/USD trades lower, shrugs of Upbeat UK jobs data
FXStreet (Mumbai) - The British pound continues to trade lower post the release of Bank of England’s (BOE) MPC minutes, ignoring cheerful UK employment data.
The GBP/USD pair trades now at 1.5723 levels, down -0.17% on the day. The pound remained lower as markets had already priced-in the BOE’s vote composition to remain unchanged in December as also the rift in inflation outlook to remain unchanged from the previous month.
UK’s jobless rate remains steady at 6.0% against market predictions of a fall to 5.9%, as wages continue to rise and the number of people claiming unemployment benefit falls more than expected, figures from the Office for National Statistics (ONS) revealed today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5747 (Dec 15 High) above which gains could be extended to 1.5765 (Dec 1 High) levels. On the flip side, support is seen at 1.5649 (Dec 11 Low), below which it could extend losses to 1.5624 (Dec 9 Low) levels
The GBP/USD pair trades now at 1.5723 levels, down -0.17% on the day. The pound remained lower as markets had already priced-in the BOE’s vote composition to remain unchanged in December as also the rift in inflation outlook to remain unchanged from the previous month.
UK’s jobless rate remains steady at 6.0% against market predictions of a fall to 5.9%, as wages continue to rise and the number of people claiming unemployment benefit falls more than expected, figures from the Office for National Statistics (ONS) revealed today.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5747 (Dec 15 High) above which gains could be extended to 1.5765 (Dec 1 High) levels. On the flip side, support is seen at 1.5649 (Dec 11 Low), below which it could extend losses to 1.5624 (Dec 9 Low) levels