Thursday, November 19, 2015

GBP/USD toying with 1.53, UK data eyed

FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets on their way up, pushing GBP/USD to test the 1.5280 area so far.

GBP/USD focus on UK data

The pair is advancing for the third straight session and testing the boundaries of the critical handle at 1.5300 after market participants have perceived yesterday’s FOMC minutes as dovish, triggering a sell-off in the dollar.

Ahead in the day, prior surveys expect UK Retail Sales to have contracted at a monthly pace of 0.5% during last month. Across the pond, the Philly Fed Manufacturing Survey will take centre stage (-1.0 exp.).

GBP/USD important levels

The pair is now up 0.26% at 1.5276 facing the immediate resistance at 1.5310 (55-day sma) followed by 1.5385 (76.4% Fibo of 1.5496-1.5023) and finally 1.5417 (100-day sma). On the flip side, a breach of 1.5135 (23.6% Fibo of 1.5496-1.5023) would aim for 1.5023 (low Nov.6) and then 1.4853 (low Apr.22).
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