27 Jan 2015
GBP/USD back to 1.5060
FXStreet (Edinburgh) - The sterling is now losing its shine vs. the greenback, sending GBP/USD back to the 1.5060 neighbourhood.
GBP/USD retreats from above 1.5100
The pair is now seeing its previous upside trimmed after the UK economy expanded less than expected during the fourth quarter in 2014. In fact, the GDP rose 0.5% inter-quarter and 2.7% over the last twelve months vs. the median at 0.6% and 2.8%, respectively. Mortgage Approvals followed suit, shrinking to 35.7K in December from 36.7K from the previous month and 36.6K forecasted.
GBP/USD key levels
At the moment the pair is losing 0.18% at 1.5070 with the next support at 1.5000 (psychological level) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23). On the flip side, a breakout of 1.5118 (10-d MA) would open the door to 1.5142 (hourly high Jan.22) and finally 1.5205 (21-d MA).
GBP/USD retreats from above 1.5100
The pair is now seeing its previous upside trimmed after the UK economy expanded less than expected during the fourth quarter in 2014. In fact, the GDP rose 0.5% inter-quarter and 2.7% over the last twelve months vs. the median at 0.6% and 2.8%, respectively. Mortgage Approvals followed suit, shrinking to 35.7K in December from 36.7K from the previous month and 36.6K forecasted.
GBP/USD key levels
At the moment the pair is losing 0.18% at 1.5070 with the next support at 1.5000 (psychological level) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23). On the flip side, a breakout of 1.5118 (10-d MA) would open the door to 1.5142 (hourly high Jan.22) and finally 1.5205 (21-d MA).