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4 Dec 2014
GBP/USD deflates to 1.5670
FXStreet (Edinburgh) - The sterling is quickly losing ground vs. the greenback on Thursday, pushing GBP/USD back to the 1.5675/70 band.
GBP/USD focus on Payrolls
After an ephemeral test to the 1.5720 area backed by a bout of USD-weakness, spot lost the grip and is currently back to test the 1.5670 area. In the data front, the BoE left its policy meeting unchanged in today’s meeting, although that is nothing to write home about. Moving forward to tomorrow’s docket, the BoE’s Consumer Inflation Expectations are due, preceding the Non Farm Payrolls in the US economy, with consensus gyrating around 232K for the past month. So, it seems that the USD dynamics will remain almost the exclusive driver for the pair, at least in the very near term and until next week’s industrial/manufacturing production in the UK.
GBP/USD levels to consider
As of writing the pair is down 0.06% at 1.5675 with the immediate support at 1.5619 (low Dec.3) followed by 1.5585 (2014 low Dec.1) and then 1.5564 (low Sep.6 2013). On the upside, a break above 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and finally 1.5743 (high Dec.2).
GBP/USD focus on Payrolls
After an ephemeral test to the 1.5720 area backed by a bout of USD-weakness, spot lost the grip and is currently back to test the 1.5670 area. In the data front, the BoE left its policy meeting unchanged in today’s meeting, although that is nothing to write home about. Moving forward to tomorrow’s docket, the BoE’s Consumer Inflation Expectations are due, preceding the Non Farm Payrolls in the US economy, with consensus gyrating around 232K for the past month. So, it seems that the USD dynamics will remain almost the exclusive driver for the pair, at least in the very near term and until next week’s industrial/manufacturing production in the UK.
GBP/USD levels to consider
As of writing the pair is down 0.06% at 1.5675 with the immediate support at 1.5619 (low Dec.3) followed by 1.5585 (2014 low Dec.1) and then 1.5564 (low Sep.6 2013). On the upside, a break above 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and finally 1.5743 (high Dec.2).