29 Nov 2013
GBP/USD standstill into the final hour
FXstreet.com (London) - FXstreet.com (London) - GBP/USD is positioned in the proximity of the highs for the week in the closing hour.
GBP/USD has climbed over two big figures from the start of the week when the pair was trading at 1.6140. Jane Foley, Senior Currency Strategist at Rabobank said the BoE yesterday took its first steps to distance itself from accusations that it has been fuelling a potential bubble in UK house prices. “The BoE is in no rush to hike rates but yesterday’s move signals the start of what is likely to be a slow move towards a withdrawal of liquidity. We expect GBP to remain well supported vs. EUR, USD and JPY going forward.”
GBP/USD Level
The 20 DMA is 1.6101 the 50 DMA is 1.6092 and the 200 DMA is 1.5533. RSI (14) reads 47.21. Supports are ascending from 1.6255, 1.6277 and 1.6298. Spot is currently 1.6367 while resistances are 1.6354, 1.6380, 1.6421, 1.6455 and 1.6478.
GBP/USD has climbed over two big figures from the start of the week when the pair was trading at 1.6140. Jane Foley, Senior Currency Strategist at Rabobank said the BoE yesterday took its first steps to distance itself from accusations that it has been fuelling a potential bubble in UK house prices. “The BoE is in no rush to hike rates but yesterday’s move signals the start of what is likely to be a slow move towards a withdrawal of liquidity. We expect GBP to remain well supported vs. EUR, USD and JPY going forward.”
GBP/USD Level
The 20 DMA is 1.6101 the 50 DMA is 1.6092 and the 200 DMA is 1.5533. RSI (14) reads 47.21. Supports are ascending from 1.6255, 1.6277 and 1.6298. Spot is currently 1.6367 while resistances are 1.6354, 1.6380, 1.6421, 1.6455 and 1.6478.