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9 Feb 2015
GBP/USD putting 1.5200 to the test
FXStreet (Edinburgh) - The greenback is now picking up pace vs. its main rivals, sending GBP/USD to visit the area around 1.5200.
GBP/USD capped around 1.5270
The pair continues its slide from pre-Payrolls levels around the mid-1.5300s, now threatening to break below the critical support at 1.5200 against the backdrop of increasing selling pressure in the risk-on space.
Ahead in the week, the BoE’s Quarterly Inflation Report will take centre stage in the UK economy. In addition, Industrial and Manufacturing Production figures are also expected, with consensus pointing to mixed results.
GBP/USD relevant levels
The pair is now losing 0.21% at 1.5202 and a breakdown of 1.5200 (psychological level) would open the door to 1.5170 (low Feb.5) and then 1.5169 (10-d MA). On the flip side, the next hurdle lines up at 1.5295 (40-d MA) followed by 1.5353 (high Feb.6) and then 1.5355 (high Jan.5).
GBP/USD capped around 1.5270
The pair continues its slide from pre-Payrolls levels around the mid-1.5300s, now threatening to break below the critical support at 1.5200 against the backdrop of increasing selling pressure in the risk-on space.
Ahead in the week, the BoE’s Quarterly Inflation Report will take centre stage in the UK economy. In addition, Industrial and Manufacturing Production figures are also expected, with consensus pointing to mixed results.
GBP/USD relevant levels
The pair is now losing 0.21% at 1.5202 and a breakdown of 1.5200 (psychological level) would open the door to 1.5170 (low Feb.5) and then 1.5169 (10-d MA). On the flip side, the next hurdle lines up at 1.5295 (40-d MA) followed by 1.5353 (high Feb.6) and then 1.5355 (high Jan.5).