GBP/USD trades modestly flat in the late-ASIAN session, continuing its side-trend as markets continue to mull over FOMC largely anticipated decision and Bank of England (BOE) Governor Carney comments.
Continues consolidation below 1.5200
The GBP/USD pair traded unchanged at 1.5142 levels, in a tight range of 1.5130-1.5156 levels. The pound witnessed mild losses versus the greenback after the Fed repeated that it can be patient in beginning to normalize the stance of monetary policy. The FOMC statement did not have major impact on the pair as the decision was largely priced-in by the market.
Meanwhile, BOE Carney mentioned that the expectations of the timing and the process of normalizing the UK monetary policy have softened when compared to a year ago amid low inflationary pressures that have led markets to push their expectations of policy tightening further back to the end of 2015. However, BOE Carney’s comments also failed to move the pair.
In the day ahead, traders await a set of UK economic data for further direction on the pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5224. On the flip side, support is seen at 1.5127 (20-DMA) below which it could extend losses to sub 1.5110 (5-DMA) levels.
Continues consolidation below 1.5200
The GBP/USD pair traded unchanged at 1.5142 levels, in a tight range of 1.5130-1.5156 levels. The pound witnessed mild losses versus the greenback after the Fed repeated that it can be patient in beginning to normalize the stance of monetary policy. The FOMC statement did not have major impact on the pair as the decision was largely priced-in by the market.
Meanwhile, BOE Carney mentioned that the expectations of the timing and the process of normalizing the UK monetary policy have softened when compared to a year ago amid low inflationary pressures that have led markets to push their expectations of policy tightening further back to the end of 2015. However, BOE Carney’s comments also failed to move the pair.
In the day ahead, traders await a set of UK economic data for further direction on the pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5200 above which gains could be extended to 1.5224. On the flip side, support is seen at 1.5127 (20-DMA) below which it could extend losses to sub 1.5110 (5-DMA) levels.
