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12 Aug 2013
GBP/USD sliding to print 1.5463 the low
FXstreet.com (Barcelona) - GBP/USD remains sub 1.5500 in the opening hours of the NA session.
GBP/USD rolled down through 1.5500 to reach into the 1.5480’s overnight and has continued to slide to reach 1.5463 lows in today’s markets. This week is an important week for Sterling with CPI, claimant change and BoE all due, and at the end of the week we will see activity around the US jobs data. Markets are fixated on jobs data for both the UK and US as officials have highlighted these as the areas of most focus in regards to the recovery of the economies and subsequent plans to reform their independent policies.
GBP/USD supported bid above 1.5201
While GBP/USD has fallen to 1.5463 the low, the pair remains in positive territory, shaking out the less committed bulls. The upside bias is towards May highs, 1.5605/26. From there a directional move would continue towards the June highs, 1.5752/55 while the market remains bid above 1.5201 and the six week channel. On the other hand, the market is data dependent and a turn around could be sharp. The 20 dma 1.5310, 50 dma 1.5337, 200 dma 1.5534. RSI (9) 64.82. Supports are ascending from 1.5332, 1.5375, 1.5435, and 1.5485. Spot is currently 1.5467 while resistances are 1.5510, 1.5558 1.5574 1.5616 1.5649
GBP/USD rolled down through 1.5500 to reach into the 1.5480’s overnight and has continued to slide to reach 1.5463 lows in today’s markets. This week is an important week for Sterling with CPI, claimant change and BoE all due, and at the end of the week we will see activity around the US jobs data. Markets are fixated on jobs data for both the UK and US as officials have highlighted these as the areas of most focus in regards to the recovery of the economies and subsequent plans to reform their independent policies.
GBP/USD supported bid above 1.5201
While GBP/USD has fallen to 1.5463 the low, the pair remains in positive territory, shaking out the less committed bulls. The upside bias is towards May highs, 1.5605/26. From there a directional move would continue towards the June highs, 1.5752/55 while the market remains bid above 1.5201 and the six week channel. On the other hand, the market is data dependent and a turn around could be sharp. The 20 dma 1.5310, 50 dma 1.5337, 200 dma 1.5534. RSI (9) 64.82. Supports are ascending from 1.5332, 1.5375, 1.5435, and 1.5485. Spot is currently 1.5467 while resistances are 1.5510, 1.5558 1.5574 1.5616 1.5649