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Forex pairs in this Article » GBP/USD
FXstreet.com (London) - GBP/USD is closing with a high of 1.5877 and awaits FOMC next week.

We have seen a number of data releases from the US, in the main negative. Michigan Consumer Sentiment came in at 76.8 against 82.0 expectations. Next week, the pair will be subject to FOMC and Lee Hardman, FX Strategist at The Bank of Tokyo-Mitsubishi UFJ, notes the main downside risks for the US dollar from next week’s meeting would be if the Fed decided not to begin tapering QE, “…the main downside risks for the US dollar from next week’s meeting would be if the Fed decided not to begin tapering QE, and/or if the Fed also strengthened its commitment to maintain low rates perhaps by either lowering the 6.5% unemployment rate threshold or combining it with an explicit inflation threshold of say 2.0% which could act to push back rate hike expectations”.

GBP/USD Levels

The 20 DMA is 1.5608, the 50 DMA is 1.5397 and the 200 DMA is 1.5490. RSI (14) reads 75.22. Supports are ascending from 1.5556, 1.5603, 1.5625, 1.5681, 1.5730, 1.5753, 1.5781 and Spot is 1.5875 and at resistance.
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