18 Feb 2015
GBP/USD treads water ahead of BOE minutes, UK data
FXStreet (Mumbai) - GBP/USD traded almost unchanged in the early European morning, reversing earlier gains as markets now await fresh insights from Bank of England’s (BOE) meeting minutes and UK jobs data due for release later in the session.
GBP/USD wavers around 1.5345 levels
The GBP/USD pair trades flat at 1.5348 levels, inching towards day’s low previously posted at 1.5342 levels. GBP/USD stood resilient despite a broad based recovery seen in the US dollar. The traders remain on the edge before the release of BOE MPC voting composition and employment numbers from the UK which may provide a clear direction to the cable.
The latest average earnings data for Q4 2014 is expected to remain unchanged at 1.7%. The UK unemployment rate is expected to remain unchanged at 5.8%, while the latest jobless claims data for January is expected to show yet another decline of 25,000.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5445 levels. On the flip side, support is seen at 1.5314 below which it could extend losses to sub 1.5250 levels.
GBP/USD wavers around 1.5345 levels
The GBP/USD pair trades flat at 1.5348 levels, inching towards day’s low previously posted at 1.5342 levels. GBP/USD stood resilient despite a broad based recovery seen in the US dollar. The traders remain on the edge before the release of BOE MPC voting composition and employment numbers from the UK which may provide a clear direction to the cable.
The latest average earnings data for Q4 2014 is expected to remain unchanged at 1.7%. The UK unemployment rate is expected to remain unchanged at 5.8%, while the latest jobless claims data for January is expected to show yet another decline of 25,000.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5400 above which gains could be extended to 1.5445 levels. On the flip side, support is seen at 1.5314 below which it could extend losses to sub 1.5250 levels.