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6 Nov 2015
GBP/USD keeps falling… 1.51 on sight
FXStreet (Edinburgh) - The bearish tone around the sterling is not giving up today, now sending GBP/USD to the area of 1.5130/20 so far.
GBP/USD weaker post-BoE, Payrolls eyed
The selling mood in GBP following the dovish tone from the Bank of England on Thursday keeps weighing on investors’ sentiment as the European session is underway, relegating spot to trade at shouting distance from October-September lows in the 1.5105/06 area.
On the data front, mixed releases from UK’s Industrial/Manufacturing Production and Trade Balance did nothing to curb the bearishness around the pound, while Non-farm Payrolls and the NIESR GDP Estimate are next on tap.
GBP/USD levels to watch
At the moment, the pair is down 0.60% at 1.5117 with the immediate support at 1.5106 (monthly low Oct.1) followed by 1.5087 (low May 5) and then 1.5000 (psychological level). On the other hand, a break above 1.5348 (200-day sma) would open the door to 1.5382 (50% Fibo of 1.5659-1.5106) and finally 1.5472 (downtrend from 1.5820).
GBP/USD weaker post-BoE, Payrolls eyed
The selling mood in GBP following the dovish tone from the Bank of England on Thursday keeps weighing on investors’ sentiment as the European session is underway, relegating spot to trade at shouting distance from October-September lows in the 1.5105/06 area.
On the data front, mixed releases from UK’s Industrial/Manufacturing Production and Trade Balance did nothing to curb the bearishness around the pound, while Non-farm Payrolls and the NIESR GDP Estimate are next on tap.
GBP/USD levels to watch
At the moment, the pair is down 0.60% at 1.5117 with the immediate support at 1.5106 (monthly low Oct.1) followed by 1.5087 (low May 5) and then 1.5000 (psychological level). On the other hand, a break above 1.5348 (200-day sma) would open the door to 1.5382 (50% Fibo of 1.5659-1.5106) and finally 1.5472 (downtrend from 1.5820).