10 Oct 2013
GBP/USD on the attack
FXstreet.com (London) - GBP/USD is attacking the higher grounds in the afternoon of the NA session, printing a new high of 1.5981 with the 1.60 handle in sight again.
GBP/USD has been consolidating in Europe and the NA cross over although the pair is now moving north while developments in the Us continue to weigh on the dollar. Meanwhile form this morning with the BoE, research teams at TD Securities said, “The BoE meeting this morning was the highlight UK event, although as well anticipated, no change to the policy rate or asset purchase program, and no release of a monthly statement has offered little new for markets to digest. The GBP has accordingly had little reaction and GBP/USD remains consolidative after yesterday’s slide”
GBPUSD Levels
The 20 DMA is 1.6043, the 50 DMA is 1.5743, and the 200 DMA is 1.5478. RSI (14) reads 55.52. Spot is currently 1.5970. Supports are ascending from 1.5829, 1.5844, 1.5869,1.5893 and 1.5952. Resistances are 1.6006, 1.6020 and 1.6055. Research teams at TD Securities said, “Price action in GBP/USD this week continues to leave a bearish bias to the pair for the coming days, particularly in view of the noted head & shoulders on the short term charts. That setup targets 1.5750. For a tactical trade we prefer selling any small rallies toward 1.6000”.
GBP/USD has been consolidating in Europe and the NA cross over although the pair is now moving north while developments in the Us continue to weigh on the dollar. Meanwhile form this morning with the BoE, research teams at TD Securities said, “The BoE meeting this morning was the highlight UK event, although as well anticipated, no change to the policy rate or asset purchase program, and no release of a monthly statement has offered little new for markets to digest. The GBP has accordingly had little reaction and GBP/USD remains consolidative after yesterday’s slide”
GBPUSD Levels
The 20 DMA is 1.6043, the 50 DMA is 1.5743, and the 200 DMA is 1.5478. RSI (14) reads 55.52. Spot is currently 1.5970. Supports are ascending from 1.5829, 1.5844, 1.5869,1.5893 and 1.5952. Resistances are 1.6006, 1.6020 and 1.6055. Research teams at TD Securities said, “Price action in GBP/USD this week continues to leave a bearish bias to the pair for the coming days, particularly in view of the noted head & shoulders on the short term charts. That setup targets 1.5750. For a tactical trade we prefer selling any small rallies toward 1.6000”.