After breaking the 1.500 level GBP/USD registered a SIX MONTHS LOW of 1.4994. Cable not only recovered from the low but also managed to close above 1.5050 level.

1/12/2015 all eyes would be on BOE (bank stress test) , Manufacturing PMI and comments form BOE Governor Mark Carney.

Technical levels to look out for GBP/USD

At present GBU/USD is trading at 1.5080

Upside : 1.5125 which is the immediate resistance and a break above this level could lead to  1.5167

Downside : 1.5030 and previous day low of 1.4994 is like possible.