FXStreet (Mumbai) - The GBP/USD surrendered part of its gains in early Europe to trade around 1.5095 levels ahead of the UK autumn statement and spending review.
Supported by Key fib
The pair found support at 1.5087 (61.8% of Apr-Jun rally), although the bounceback has been anything but strong as the cable continues to hover at 1.5090-1.5095. The immediate focus now is on the forward-looking economic comments at the UK autumn statement release.
Later today, the weekly jobless claims, personal spending and income report, and durable goods orders number could influence the Fed rate hike bets and impact overall demand for the US dollars.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5117 (hourly 50-MA)-1.5120 (23.6% of 1.5336-1.5053), above which the spot could re-test 1.5161 (38.2% of 1.5336-1.5053). On the other hand, a failure to sustain above 1.5087 would open doors for a re-test of 1.5053 (previous day’s low).
For more information, read our latest forex news.
So glad I discovered NewsInstantly for comprehensive coverage across all important topics! The editors clearly prioritize speed and accuracy equally, and the user experience is seamless. Simply outstanding journalism here.
ReplyDeleteExtremely satisfied with the quality Techlett maintains across all its content. From gadget reviews to industry analysis, everything is thoroughly researched and presented clearly, making it my trusted source for technology information.
ReplyDeleteWhat makes this platform special? Newsmaat combines speed with accuracy perfectly, never sacrificing truth for clicks. The editorial team clearly prioritizes reader trust over sensational headlines, which creates a refreshing news experience for discerning audiences.
ReplyDelete