16 Jan 2015
GBP/USD in between key levels
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5152, with a high of 1.5237 and a low of 1.5075, down 0.12% on the day.
GBP/USD has pressed onto the the mid point of the 1.51 handle, recovering from the lows at 1.5074, while this level is just head of the yearly low of 1.5034. The market has been fixated on the SNB which has allowed the dollar to outperform, coupled with strong data that signifies good consumer confidence in the US economy coupled with a higher inflationary climate that had been expected in December, despite the poor retails sales that were recently recorded for the same period.
Meanwhile, from a technical stand point, the failures to the downside have lead to this minor correction, with 1.5300 as first target for the bulls. Failure here will reset to the tone for test of the downside again. Should the psychological barrier give, directly below there lies the 1.4910/1.4812 long term Fibo and 2013 low.
GBP/USD has pressed onto the the mid point of the 1.51 handle, recovering from the lows at 1.5074, while this level is just head of the yearly low of 1.5034. The market has been fixated on the SNB which has allowed the dollar to outperform, coupled with strong data that signifies good consumer confidence in the US economy coupled with a higher inflationary climate that had been expected in December, despite the poor retails sales that were recently recorded for the same period.
Meanwhile, from a technical stand point, the failures to the downside have lead to this minor correction, with 1.5300 as first target for the bulls. Failure here will reset to the tone for test of the downside again. Should the psychological barrier give, directly below there lies the 1.4910/1.4812 long term Fibo and 2013 low.