FXstreet.com (Barcelona) - The sterling is losing ground after ten consecutive sessions in positive territory, trading in the 1.5670 region after disappointing events from Greece have changed the market sentiment. The 1.5750-80 zone has proved to contain any attempt of further advance in the past, increasing the need for a proper game-changer to climb to higher levels.
US PCE is due later on in the European afternoon. Ahead this week, PMI results will gauge the health of the British economy. The possibility of increasing the Asset Purchase Programme by £50-75bn in February could put the cable under pressure in the upcoming sessions.
As of writing the cross is down 0.30% at 1.5675 with resistance at 1.5740 (high Jan.27) ahead of 1.5775 (high Dec.21) then 1.5780 (high Nov.30) and 1.5788 (50% of 1.617-1.5408).
On the flip side, a breach of 1.5662 (MA100d) would open the door to 1.5642 (low Jan.27) then 1.5612 (low Jan.25) and 1.5569 (MA55d).
US PCE is due later on in the European afternoon. Ahead this week, PMI results will gauge the health of the British economy. The possibility of increasing the Asset Purchase Programme by £50-75bn in February could put the cable under pressure in the upcoming sessions.
As of writing the cross is down 0.30% at 1.5675 with resistance at 1.5740 (high Jan.27) ahead of 1.5775 (high Dec.21) then 1.5780 (high Nov.30) and 1.5788 (50% of 1.617-1.5408).
On the flip side, a breach of 1.5662 (MA100d) would open the door to 1.5642 (low Jan.27) then 1.5612 (low Jan.25) and 1.5569 (MA55d).
