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12 Aug 2013
GBP/USD eyes a busy week ahead
FXstreet.com (Barcelona) - It has been a quiet Asian session with little happening across the majors, although GBP/USD did take a tumble sub 1.5500.
GBP/USD rolled down through 1.5500 to reach into the 1.5480’s, climbed back to 1.5500 and has been offered in European markets, but slightly supported in London’s opening half hour. This week is an important week for Sterling with CPI, Claimant Changes and BoE minutes all due from tomorrow, 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 stimulus policies.
GBP/USD in negative territory
GBP/USD has moved into key technical territory since the Inflation Report and there is an upside bias towards the May highs, 1.5605/26. From here a directional move would continue higher towards the June highs, 1.5752/55. The market remains bid above 1.5201 and the six week channel. 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 1.5487 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, climbed back to 1.5500 and has been offered in European markets, but slightly supported in London’s opening half hour. This week is an important week for Sterling with CPI, Claimant Changes and BoE minutes all due from tomorrow, 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 stimulus policies.
GBP/USD in negative territory
GBP/USD has moved into key technical territory since the Inflation Report and there is an upside bias towards the May highs, 1.5605/26. From here a directional move would continue higher towards the June highs, 1.5752/55. The market remains bid above 1.5201 and the six week channel. 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 1.5487 while resistances are 1.5510, 1.5558 1.5574 1.5616 1.5649