GBP/USD flat near 1.4530 ahead of European open

By FXStreet FXStreet (Edinburgh) – The sterling is now looking to consolidate last week’s deep sell-off, taking GBP/USD to navigate in multi-year lows in the 1.4530 region.

GBP/USD focus on UK data, BoE

The demand for British pound remains subdued at the start of the new year, exerting further pressure on the area of the psychological handle at 1.4500 and leaving the door open for the next target at 1.4229, 2010 low.

It will be an interesting week for GBP on the data front, as Industrial/Manufacturing Production figures are due tomorrow, seconded by the NIESR GDP Estimate and the usual ‘Super-Thursday’, with the BoE interest rate decision and subsequent minutes.

GBP/USD important levels

The pair is now up 0.02% at 1.4530 and a breach of 1.4500 (psychological level) would expose 1.4346 (low Jun.8 2010). And then 1.4229 (2010 low May 20). On the flip side, the next up barrier aligns at 1.4947 (high Dec.24) ahead of 1.5029 (55-day sma) and finally 1.5168 (100-day sma).
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Source:: FX Street