Friday, September 18, 2015

GBP/USD corrects lower from 1.5660

FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets on Friday, with GBP/USD looking to consolidate the recent break above the 1.5600 mark.

GBP/USD indifferent to Haldane’s comments

Spot paid little-to-none attention to the dovish comments by BoE’s Chief Economist A.Haldane, who slipped the chance that the central bank may need to cut rates in case downside risks to the UK economy materialize. He also stressed that a rate increase is ‘some way from being made’, citing the lack of reaction in domestic consumer prices and early signs of a slowdown in the economy.

The pair manages well to remain above the 1.5600 handle albeit a tad lower than earlier tops in the boundaries of 1.5660.

GBP/USD significant levels

As of writing the pair is advancing 0.24% at 1.5629 with the next hurdle at 1.5660 (high Sep.18) followed by 1.5717 (high Aug.26) and finally 1.5803 (high Aug.24). On the other hand, a breakdown of 1.5486 (low Sep.17) would aim for 1.5373 (low Sep.14) and then 1.5330 (low Sep.16).
For more information, read our latest forex news.

No comments:

Post a Comment