26 Jul 2013
GBP/USD climbs to 1.5400
FXstreet.com (Edinburgh) -The pound finally managed to conquer the key 1.5400 handle on Friday, lifting the GBP/USD to session highs in the vicinity of 1.5420.
GBP/USD vs. BoE meeting
The sterling would be under pressure in light of next week’s events, with the BoE MPC gathering and PMI prints in the limelight ahead of the US Payrolls. According to Jane Foley, Strategist at Rabobank, “we expect that the BoE will favour a looser approach to forward guidance in which official rates does not depend on a specified economic variable… The BoE’s official mandate is only focused on price stability and the linking of forward guidance to another economic variable could be an unnecessary complication”.
GBP/USD key levels
At the moment the pair is up 0.04% at 1.5400 with the next hurdle at 1.5435 (high Jul.25) followed by 1.5442 (high Jun.26) and finally 1.5480 (high Jun.25). On the flip side, a break below 1.5280 (MA10d) would then target 1.5264 (low Jul.25) en route to 1.5258 (low Jul.22).
GBP/USD vs. BoE meeting
The sterling would be under pressure in light of next week’s events, with the BoE MPC gathering and PMI prints in the limelight ahead of the US Payrolls. According to Jane Foley, Strategist at Rabobank, “we expect that the BoE will favour a looser approach to forward guidance in which official rates does not depend on a specified economic variable… The BoE’s official mandate is only focused on price stability and the linking of forward guidance to another economic variable could be an unnecessary complication”.
GBP/USD key levels
At the moment the pair is up 0.04% at 1.5400 with the next hurdle at 1.5435 (high Jul.25) followed by 1.5442 (high Jun.26) and finally 1.5480 (high Jun.25). On the flip side, a break below 1.5280 (MA10d) would then target 1.5264 (low Jul.25) en route to 1.5258 (low Jul.22).