9 Jul 2014
GBP/USD relaxing back onto support 1.7130
FXStreet (Guatemala) - GBP/USD is trading at 1.7130, down -0.01% on the day, having posted a daily high at 1.7148 and low at 1.7094.
GBP/USD is relaxing back onto the support here ahead of the FOMC minutes. Then, tomorrow, we will get the BoE. However, this may not be much of an event and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained,"We do not expect any surprises at tomorrow’s BoE meeting, with both interest rates and the asset purchase program on hold at 0.5% and £375bn respectively. Next week’s CPI release and slew of data is the next hurdle for GBP. We expect near‐term upside but an easing into year‐end; holding a Q414 target of 1.70."
GBP/USD Levels
Current price is 1.7131, with resistance ahead at 1.7134 (Daily Open), 1.7138 (Hourly 100 SMA), 1.7148 (Daily High), 1.7150 (Yesterday's High) and 1.7160 (Daily Classic R1). Next support to the downside can be found at 1.7127 (Weekly Low), 1.7122 (Hourly 20 EMA), (Daily Classic PP), 1.7120 (Hourly 200 SMA) and 1.7116 (Weekly Classic PP).
GBP/USD is relaxing back onto the support here ahead of the FOMC minutes. Then, tomorrow, we will get the BoE. However, this may not be much of an event and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained,"We do not expect any surprises at tomorrow’s BoE meeting, with both interest rates and the asset purchase program on hold at 0.5% and £375bn respectively. Next week’s CPI release and slew of data is the next hurdle for GBP. We expect near‐term upside but an easing into year‐end; holding a Q414 target of 1.70."
GBP/USD Levels
Current price is 1.7131, with resistance ahead at 1.7134 (Daily Open), 1.7138 (Hourly 100 SMA), 1.7148 (Daily High), 1.7150 (Yesterday's High) and 1.7160 (Daily Classic R1). Next support to the downside can be found at 1.7127 (Weekly Low), 1.7122 (Hourly 20 EMA), (Daily Classic PP), 1.7120 (Hourly 200 SMA) and 1.7116 (Weekly Classic PP).