Back
14 Dec 2015
GBP/USD finds support around key Fibo
FXStreet (Mumbai) - The sell-off in the GBP/USD pair appears to have stalled around 1.5113 (23.6% of 1.5819-1.4895) in the early US session.
GBP clocked four-day low
Sterling fell to 4-day low of 1.5108 amid sliding oil prices and an uptick in the treasury yields. BOE’s Shafik said she won’t vote for a rate hike since the wage growth is still not convincing, but assured markets that 0.5% rate is not the new normal. Consequently, the pair recovered slightly to 1.5128 levels.
Ahead in the day, the overall market sentiment and the action in the treasury yields could continue to guide the movement in the GBP/USD pair.
GBP/USD Technical Levels
At 1.5128, the immediate support is seen at 1.5113 (23.6% of 1.5819-1.4895), under which the pair could drop to 1.5087 (61.8% of Apr-Jun rally)-1.5063 (38.2% of 1.5336-1.4895). On the other side, resistance is seen at 1.5138 (hourly 100-MA), above which the pair could re-test 1.5167 (61.8% of 1.5336-1.4895).
GBP clocked four-day low
Sterling fell to 4-day low of 1.5108 amid sliding oil prices and an uptick in the treasury yields. BOE’s Shafik said she won’t vote for a rate hike since the wage growth is still not convincing, but assured markets that 0.5% rate is not the new normal. Consequently, the pair recovered slightly to 1.5128 levels.
Ahead in the day, the overall market sentiment and the action in the treasury yields could continue to guide the movement in the GBP/USD pair.
GBP/USD Technical Levels
At 1.5128, the immediate support is seen at 1.5113 (23.6% of 1.5819-1.4895), under which the pair could drop to 1.5087 (61.8% of Apr-Jun rally)-1.5063 (38.2% of 1.5336-1.4895). On the other side, resistance is seen at 1.5138 (hourly 100-MA), above which the pair could re-test 1.5167 (61.8% of 1.5336-1.4895).