31 Jan 2014
GBP/USD attempting fresh lows on the day
FXstreet.com (Guatemala) - GBP/USD dropped an additional 30 pips to reach a low just shy of 1.6430 in the five minute charts.
Next week will pick up event wise, and Strategists at Rabobank noted that the release of the Inflation Report on February 12 is likely to demand attention. “Not only will the Bank present its latest economic overview, but Governor Carney has promised that the “Bank’s assessment of how to evolve guidance to changing circumstances will begin in our February Inflation Report.” We expect that the existing forward guidance will be altered or downplayed in order for the MPC to underpin a very dovish tone”.
GBP/USD Levels
The 20 DMA is 1.6471, the 50 DMA is 1.6408 and the 200 DMA is 1.5815. RSI (14) reads 484.75. Supports are ascending from 1.6309, 1.6343, 1.6396 and 1.6415. Spot is 1.6434, 1.6536, 1.6586, 1.6606 and 1.6627.
Next week will pick up event wise, and Strategists at Rabobank noted that the release of the Inflation Report on February 12 is likely to demand attention. “Not only will the Bank present its latest economic overview, but Governor Carney has promised that the “Bank’s assessment of how to evolve guidance to changing circumstances will begin in our February Inflation Report.” We expect that the existing forward guidance will be altered or downplayed in order for the MPC to underpin a very dovish tone”.
GBP/USD Levels
The 20 DMA is 1.6471, the 50 DMA is 1.6408 and the 200 DMA is 1.5815. RSI (14) reads 484.75. Supports are ascending from 1.6309, 1.6343, 1.6396 and 1.6415. Spot is 1.6434, 1.6536, 1.6586, 1.6606 and 1.6627.