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23 Jan 2015
Sliding Pound dips below 1.50 – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, comments that GBP/USD has extended its losses in the European session, falling below the 1.5008 support, now supported by 1.4873 levels.
Key Quotes
“The pound is trading below the symbolic line of 1.50 on Friday, following sharp losses a day earlier. In Friday’s European session, GBP/USD is trading at 1.4982. On the release front, the pound shrugged off a gain of 0.4% by Retail Sales in December.”
“In the US, today’s highlight is US Existing Home Sales. The markets are expecting a jump in the December report, with an estimate of 5.08 million.”
“GBP/USD was steady in the Asian session, with the pair testing resistance at 1.5008. The pair has edged lower in European trade.”
“1.5008 has reverted to a resistance role following sharp losses by the pound. This line had provided support since July 2013. There is stronger resistance at 1.5165.”
“1.4873 is providing strong support.”
“Current range: 1.4873 to 1.5008”
Key Quotes
“The pound is trading below the symbolic line of 1.50 on Friday, following sharp losses a day earlier. In Friday’s European session, GBP/USD is trading at 1.4982. On the release front, the pound shrugged off a gain of 0.4% by Retail Sales in December.”
“In the US, today’s highlight is US Existing Home Sales. The markets are expecting a jump in the December report, with an estimate of 5.08 million.”
“GBP/USD was steady in the Asian session, with the pair testing resistance at 1.5008. The pair has edged lower in European trade.”
“1.5008 has reverted to a resistance role following sharp losses by the pound. This line had provided support since July 2013. There is stronger resistance at 1.5165.”
“1.4873 is providing strong support.”
“Current range: 1.4873 to 1.5008”