7 May 2015
GBP/USD testing 1.5200
FXStreet (Edinburgh) - The sterling is trading on the back footing on Thursday, with GBP/USD now putting the 1.5200 mark to the test.
GBP/USD focus on UK election
The pair is snapping a 2-day positive streak near the 1.5200 handle, as market participants remain vigilant on the events coming from the UK Parliamentary Elections, with the final results expected tomorrow before the opening bell in Europe.
Ahead in the week, the above mentioned results from the elections will prove to be the main catalyst for the pair’s price action, although US Non-farm Payrolls (225K exp.) tomorrow will surely add volatility as well.
GBP/USD levels to consider
As of writing the pair is down 0.26% at 1.5207 with the next support at 1.5190 (50% of 1.5088-1.5292) ahead of 1.5166 (61.8% of 1.5088-1.5292) and finally 1.5150 (low May 6). On the flip side, a breakout of 1.5292 (high May 6) would open the door to 1.5293 (50% of 1.5498-1.5088) and then 1.5397 (high May 1).
GBP/USD focus on UK election
The pair is snapping a 2-day positive streak near the 1.5200 handle, as market participants remain vigilant on the events coming from the UK Parliamentary Elections, with the final results expected tomorrow before the opening bell in Europe.
Ahead in the week, the above mentioned results from the elections will prove to be the main catalyst for the pair’s price action, although US Non-farm Payrolls (225K exp.) tomorrow will surely add volatility as well.
GBP/USD levels to consider
As of writing the pair is down 0.26% at 1.5207 with the next support at 1.5190 (50% of 1.5088-1.5292) ahead of 1.5166 (61.8% of 1.5088-1.5292) and finally 1.5150 (low May 6). On the flip side, a breakout of 1.5292 (high May 6) would open the door to 1.5293 (50% of 1.5498-1.5088) and then 1.5397 (high May 1).