22 Aug 2013
GBP/USD offered in London through 1.5600
FXstreet.com (Barcelona) - GBP/USD has dipped below 1.5600 again to to the overnight low of 1.5586.
GBP/USD is offered while the European markets are digesting the FOMC minutes, which read a little more hawkish than expected. In the absence of UK data, focus in on the US and the weekly initial unemployment claims will be closely monitored after the impressive fall to just 320K last week. The results could prove a strong US labour market. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking.
GBP/USD is testing the downside
GBP/USD has dropped away from the perimeters of the 200 week MA and June peak at 1.5725/55. The pair is trading with a negative bias towards the 200 DMA. The 20 DMA is 1.5442, the 50 DMA is 1.5348 while the 200 DMA is 1.5520. RSI (9) reads 70.65. Supports are ascending from 1.5497, 1.5510, 1.5548, 1.5574. Spot is currently 1.5593 while resistances are 1.5610, 1.5662 1.5696, 1.5723 and 1.5753
GBP/USD is offered while the European markets are digesting the FOMC minutes, which read a little more hawkish than expected. In the absence of UK data, focus in on the US and the weekly initial unemployment claims will be closely monitored after the impressive fall to just 320K last week. The results could prove a strong US labour market. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking.
GBP/USD is testing the downside
GBP/USD has dropped away from the perimeters of the 200 week MA and June peak at 1.5725/55. The pair is trading with a negative bias towards the 200 DMA. The 20 DMA is 1.5442, the 50 DMA is 1.5348 while the 200 DMA is 1.5520. RSI (9) reads 70.65. Supports are ascending from 1.5497, 1.5510, 1.5548, 1.5574. Spot is currently 1.5593 while resistances are 1.5610, 1.5662 1.5696, 1.5723 and 1.5753