Monday, September 28, 2015

GBP/USD back below 1.52, Fed speak eyed

FXStreet (Mumbai) - Offered at 1.5209 in Asia, the GBP/USD is back below 1.52 levels ahead of the European session after having suffered almost 400 pip loss last week.

Eyes Fed and BOE speak

The spot currently trades around 1.5185 levels. The UK economic calendar is empty today. Consequently, all eyes are likely to be on the speeches of Fed officials - Fed governor Daniel Tarullo, New York Fed president William Dudley, Chicago Fed president Charles Evans and San Francisco Fed president John Williams.

UK will also feature speech of Jon Cunliffe, Deputy Governor for Financial Stability of BoE. Meanwhile, US personal spending and income are expected to rise 0.3% and 0.4% respectively in August. Ahead of the key events, the sentiment in the major European markets could offer cues to the GBP/USD pair.

GBP/USD Technical Levels

The immediate resistance is seen at 1.5209 (daily high), above which the spot could target Friday’s high at 1.5260. On the other hand, support is seen at 1.5135 (Friday’s low) and 1.51 levels.
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