Forex: GBP/USD extends its decline, around 1.6085
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The sterling is prolonging its downside, sparked after the cross has climbed to Tuesday's highs in the proximities of 1.6130, as risk appetite continues to shrink.
Yesterday's Autumn Statement report was in line with previous estimates, although agency Fitch recently warned that the AAA condition of the UK could be compromised if the government continues to miss its fiscal targets.
Ahead of the BoE MPC meeting, the GBPUSD is losing 0.06% at 1.6085 with the immediate support at 1.6047 (MA55d) followed by 1.6039 (MA10d) and then 1.5988 (low Nov.30).
On the upside, a breakout of 1.6131 (high Dec.4) would open the door to 1.6133 (high Nov.2) and finally 1.6176 (high Nov.1).
Yesterday's Autumn Statement report was in line with previous estimates, although agency Fitch recently warned that the AAA condition of the UK could be compromised if the government continues to miss its fiscal targets.
Ahead of the BoE MPC meeting, the GBPUSD is losing 0.06% at 1.6085 with the immediate support at 1.6047 (MA55d) followed by 1.6039 (MA10d) and then 1.5988 (low Nov.30).
On the upside, a breakout of 1.6131 (high Dec.4) would open the door to 1.6133 (high Nov.2) and finally 1.6176 (high Nov.1).
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