20 Oct 2015
GBP/USD stays comatose, ignores US data
FXStreet (Mumbai) - The GBP/USD pair saw little action despite upbeat US data and continues to trade around 1.5480 as investors await Fed speak.
Yellen speech eyed, Carney was non-event
Fed’s Yellen is due to speak later today and markets would be interested to see if the chairwoman throws a light on the timing of the liftoff. Meanwhile, the focus would also be on Fed official’s speech- Dudley and Powell.
Meanwhile, BOE Carney’s testimony turned out to be a non-event for the markets, while investors ignored hawkish comments from the BOE hawk McCafferty. The cable also showed a little reaction to the upbeat US housing starts data.
GBP/USD Technical Levels
At 1.5480, the immediate resistance is seen at 100-DMA at 1.5490. A break above the same open doors for 1.5547 (61.8% of 1.5819-1.5107), followed by 1.5568 (38.2% of Jul14-Apr15 plunge). On the other side, support is seen at 1.5454 (daily low), under which losses could be extended to 1.54 levels.
Yellen speech eyed, Carney was non-event
Fed’s Yellen is due to speak later today and markets would be interested to see if the chairwoman throws a light on the timing of the liftoff. Meanwhile, the focus would also be on Fed official’s speech- Dudley and Powell.
Meanwhile, BOE Carney’s testimony turned out to be a non-event for the markets, while investors ignored hawkish comments from the BOE hawk McCafferty. The cable also showed a little reaction to the upbeat US housing starts data.
GBP/USD Technical Levels
At 1.5480, the immediate resistance is seen at 100-DMA at 1.5490. A break above the same open doors for 1.5547 (61.8% of 1.5819-1.5107), followed by 1.5568 (38.2% of Jul14-Apr15 plunge). On the other side, support is seen at 1.5454 (daily low), under which losses could be extended to 1.54 levels.