Back
8 Jan 2015
GBP/USD not backing down and takes on 1.51 handle
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5111 having printed a low of 1.5034 and a high of 1.5120 and is up 0.02% on the day so far.
GBP/USD has been making fresh lows yet again while the BoE left rates at 0.5% and didn't make any changes to the GBP375B buying programme. However, the US trade has seen the pair off the lows with a weaker greenback and takes it back onto the 1.51 handle, but the pair remains capped at 1.5120 resistance so far.
For the UK, we now look ahead to the CPI's for the UK on 13th Jan and then to the BoE minutes towards the end of the month on Jan 21st. For the US, we are awaiting the usual showdown in the Nonfarm Payrolls tomorrow.
Technically, Ipek Ozkardeskaya, Market Analyst at Swissquote explained that the 30-day RSI points at deep oversold pound verse USD, the lower Bollinger band is left far behind therefore hinting at a correction pre-1.50 psychological level.
GBP/USD has been making fresh lows yet again while the BoE left rates at 0.5% and didn't make any changes to the GBP375B buying programme. However, the US trade has seen the pair off the lows with a weaker greenback and takes it back onto the 1.51 handle, but the pair remains capped at 1.5120 resistance so far.
For the UK, we now look ahead to the CPI's for the UK on 13th Jan and then to the BoE minutes towards the end of the month on Jan 21st. For the US, we are awaiting the usual showdown in the Nonfarm Payrolls tomorrow.
Technically, Ipek Ozkardeskaya, Market Analyst at Swissquote explained that the 30-day RSI points at deep oversold pound verse USD, the lower Bollinger band is left far behind therefore hinting at a correction pre-1.50 psychological level.