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20 May 2015
GBP/USD sidelined around 1.5500
FXStreet (Edinburgh) - The pound is posting meager gains vs. the greenback on Wednesday, with GBP/USD meandering in a narrow range around 1.5500 the figure.
GBP/USD attention to the BoE minutes
The par has seen a sharp sell off along with the rest of the risk-associated universe during the first half of the week amidst a generalized sentiment towards the US dollar, dropping to the mid-1.5400s from last week’s tops beyond the 1.5800 handle.
Ahead in the session, the BoE will publish its minutes from the last MPC meeting. Consensus amongst traders points to a repetition of the steady stance from the ‘Old Lady’, with members unanimously voting to keep both the refi rate and the asset purchase facility unchanged at 0.5% and £375 billion, respectively.
GBP/USD key levels
As of writing the pair is down 0.04% at 1.5507 with the immediate support at 1.5447 (low May 19) ahead of 1.5393 (low May 11) and then 1.5366 (61.8% of 1.5088-1.5815). On the flip side, a break above 1.5589 (10-d MA) would open the door to 1.5669 (high May 19) and finally 1.5745 (high May 18).
GBP/USD attention to the BoE minutes
The par has seen a sharp sell off along with the rest of the risk-associated universe during the first half of the week amidst a generalized sentiment towards the US dollar, dropping to the mid-1.5400s from last week’s tops beyond the 1.5800 handle.
Ahead in the session, the BoE will publish its minutes from the last MPC meeting. Consensus amongst traders points to a repetition of the steady stance from the ‘Old Lady’, with members unanimously voting to keep both the refi rate and the asset purchase facility unchanged at 0.5% and £375 billion, respectively.
GBP/USD key levels
As of writing the pair is down 0.04% at 1.5507 with the immediate support at 1.5447 (low May 19) ahead of 1.5393 (low May 11) and then 1.5366 (61.8% of 1.5088-1.5815). On the flip side, a break above 1.5589 (10-d MA) would open the door to 1.5669 (high May 19) and finally 1.5745 (high May 18).