16 Dec 2015
GBP/USD is attempting a rise after two-day decline
FXStreet (Mumbai) - The GBP/USD pair is trading moderately higher around 1.5050 after suffering sharp losses in the previous two sessions.
Focus on US Treasury yields
The currency markets are likely to remain focused on the Treasury yields, which drove the USD higher across the board in the NY session yesterday. Meanwhile, the Sterling traders would also keep an eye on the labor and wage pay data.
BOE’s Shafik was on the wires earlier this week expressing concerns regarding the sustainability of the wage growth and the data today is expected to show a slowdown in wage pay in October.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5087 (61.8% of Apr-Jun rally), above which the pair could rise to 1.5113 (23.6% of 1.5819-1.4895). On the other hand, a break below 1.50 handle would expose 1.4957 (Dec 8 low).
Focus on US Treasury yields
The currency markets are likely to remain focused on the Treasury yields, which drove the USD higher across the board in the NY session yesterday. Meanwhile, the Sterling traders would also keep an eye on the labor and wage pay data.
BOE’s Shafik was on the wires earlier this week expressing concerns regarding the sustainability of the wage growth and the data today is expected to show a slowdown in wage pay in October.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5087 (61.8% of Apr-Jun rally), above which the pair could rise to 1.5113 (23.6% of 1.5819-1.4895). On the other hand, a break below 1.50 handle would expose 1.4957 (Dec 8 low).