16 Jan 2015
GBP/USD testing 1.5200
FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets on Friday, pushing GBP/USD to challenge the 1.5200 barrier.
GBP/USD better on risk-off trade
The current offered tone around the greenback is allowing the ongoing rebound in the pair, looking to break above the overnight consolidation pattern around 1.5180. Spot slowly continues to rebound from the recent lows near 1.5020 (January 8th), although its advance greatly depends on the USD dynamics. The next events of relevance in the UK economy will come next week, starting on Wednesday with the BoE minutes and the labour market report, and followed by the retail sales results on Friday.
GBP/USD levels to consider
As of writing the pair is advancing 0.12% at 1.5191 with the next hurdle at 1.5267 (high Jan.15) ahead of 1.5270 (high Jan.14) and finally 1.5274 (high Jan.6). On the flip side, a breakdown of 1.5151 (low Jan.15) would open the door to 1.5145 (low Jan.14) and then 1.5077 (low Jan.13).
GBP/USD better on risk-off trade
The current offered tone around the greenback is allowing the ongoing rebound in the pair, looking to break above the overnight consolidation pattern around 1.5180. Spot slowly continues to rebound from the recent lows near 1.5020 (January 8th), although its advance greatly depends on the USD dynamics. The next events of relevance in the UK economy will come next week, starting on Wednesday with the BoE minutes and the labour market report, and followed by the retail sales results on Friday.
GBP/USD levels to consider
As of writing the pair is advancing 0.12% at 1.5191 with the next hurdle at 1.5267 (high Jan.15) ahead of 1.5270 (high Jan.14) and finally 1.5274 (high Jan.6). On the flip side, a breakdown of 1.5151 (low Jan.15) would open the door to 1.5145 (low Jan.14) and then 1.5077 (low Jan.13).