5 Dec 2014
GBP/USD consolidates below 1.5600
FXStreet (Edinburgh) - The sterling keeps the area around ytd lows vs. the US dollar on Friday, with GBP/USD looking to consolidate the weekly decline in sub-1.5600 levels.
GBP/USD depressed by Payrolls
Today’s main theme in the FX universe remains the very optimistic level of the US Payrolls during November, coming in at 321K and crushing the 230K initially forecasted. The pair reacted accordingly, dropping more than a big-figure from the 1.5690 region, all framed within the broader decline in the riskier assets. There area no game-changers in the UK docket in the upcoming week, with Industrial/Manufacturing Production (Wednesday) and Trade Balance (Thursday) being the highlights, leaving the price action once again to the mercy of the developments around the USD.
GBP/USD levels to consider
The pair is now losing 0.56% at 1.5587 facing the next support at 1.5564 (low Sep.6 2013) followed by 1.5556 (low Sep.4 2013) and finally 1.5507 (low Sep.2 2013). On the upside, a break above 1.5696 (high Dec.5) would expose 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and then 1.5743 (high Dec.2).
GBP/USD depressed by Payrolls
Today’s main theme in the FX universe remains the very optimistic level of the US Payrolls during November, coming in at 321K and crushing the 230K initially forecasted. The pair reacted accordingly, dropping more than a big-figure from the 1.5690 region, all framed within the broader decline in the riskier assets. There area no game-changers in the UK docket in the upcoming week, with Industrial/Manufacturing Production (Wednesday) and Trade Balance (Thursday) being the highlights, leaving the price action once again to the mercy of the developments around the USD.
GBP/USD levels to consider
The pair is now losing 0.56% at 1.5587 facing the next support at 1.5564 (low Sep.6 2013) followed by 1.5556 (low Sep.4 2013) and finally 1.5507 (low Sep.2 2013). On the upside, a break above 1.5696 (high Dec.5) would expose 1.5719 (high Dec.3) would open the door to 1.5726 (21-d MA) and then 1.5743 (high Dec.2).