21 Jan 2015
GBP/USD elevated, ahead of MPC
FXStreet (Mumbai) - Cable trades higher, well above 1.5100 threshold in the early European morning, in anticipation of the upcoming significant data for the sterling.
The GBP/USD pair traded at 1.5173 levels, up 0.19% on the day, having posted fresh session highs at 1.5179 few minutes ago. GBP/USD remains buoyed as traders await jobs data and the Bank of England's (BoE) minutes later in the day. The UK unemployment rate is expected to decline slightly to 5.9% in November from 6% reported a month ago, with that wages report also due on today.
Moreover, the BoE's Monetary Policy Committee's (MPC) January meeting minutes report will show how the nine members voted, as well as the arguments for and against maintaining the current policy stance.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5236 levels. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5053 (Jan 7 Low) levels.
The GBP/USD pair traded at 1.5173 levels, up 0.19% on the day, having posted fresh session highs at 1.5179 few minutes ago. GBP/USD remains buoyed as traders await jobs data and the Bank of England's (BoE) minutes later in the day. The UK unemployment rate is expected to decline slightly to 5.9% in November from 6% reported a month ago, with that wages report also due on today.
Moreover, the BoE's Monetary Policy Committee's (MPC) January meeting minutes report will show how the nine members voted, as well as the arguments for and against maintaining the current policy stance.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5236 levels. On the flip side, support is seen at 1.5100 below which it could extend losses to sub 1.5053 (Jan 7 Low) levels.