Wednesday, September 16, 2015

GBP/USD: Rejected at hourly 200-MA, back to 200-DMA

FXStreet (Mumbai) - The GBP/USD pair failed to take out its hourly 200-MA located at 1.5355 and fell back to trade at its 200-DMA located at 1.5345 levels.

Awaits UK data, Eyes 2-yr treasury yield

The investors await the data in the UK, which could show the average hourly earnings ticked higher along with the employment numbers. The US dollar remains bid on account of the sharp rise in the two-year treasury yield to 0.8%; its highest since April 2011. The short-duration treasury yields represent the short-term rate hike expectations.

Ahead in the day, the spot could also be influenced by the US consumer price index.

GBP/USD Technical Levels

The immediate resistance is located at 1.5355 (hourly 200-MA), above which gains could be extended to 1.54 levels. On the other side, support is seen at 1.5329 (previous session’s low) and 1.53 levels.
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