GBP/USD back to 1.5060

FXStreet (Edinburgh) - The offered tone grows around the pound now, sending GBP/USD back to the 1.5060/50 area.

GBP/USD focus on US GDP

The pair has eroded initial gains and is now trading almost unchanged vs. the dollar, coming down from session peaks in levels just shy of 1.5100 the figure. Data releases in the British economy posted earlier came in below expectations, weighing on GBP and collaborating with the correction lower.

In the meantime, markets continue to focus on the US docket, with the GDP Annualized during Q4 and the Reuters/Michigan index as the main events.

GBP/USD key levels

At the moment the pair is down 0.01% at 1.5063 with the next support at 1.5018 (low Jan.29) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23). On the other direction, a surpass of 1.5100 (psychological level) would aim for 1.5141 (21-d MA) ahead of 1.5161 (high Jan.29).

USD/CAD near-term downside risks – TDS

Shaun Osborne, Chief FX Strategist at TD Securities, views technicals suggest that USD/CAD sees a modest near-term downside risk, with the pair seeing a potential double top-formation at 1.2676.
Baca selengkapnya Previous

Gold trades steady ahead of US GDP data

Gold prices have steadied around USD 1264 levels as investors await the preliminary US Q4 GDP data.
Baca selengkapnya Next