15 Oct 2013
GBP/USD testing 1.60 handle, can it break?
FXstreet.com (London) - GBP/USD has climbed back from below 1.5920 and continues to target the 1.6000 handle.
The markets attentions have turned to the details of the resolution and how long this ceiling can hold up for. Beyond this the focus once again shifts towards the Fed and of course Yellen and continuation of QE/Tapering. From the calendar, for GBP, Research teams at TD Securities said CPI was a little stronger than expected at 2.7% Y/Y in Sept (mkt 2.6%), unchanged from August...”the focus will be on the unemployment rate, where analysts are split for tomorrow’s reading between looking for unchanged at 7.7% or another notch lower at 7.6%”.
GBP/USD Levels
The 20 DMA is 1.6063, the 50 DMA is 1.57.99 and the 200 DMA is 1.5476 RSI (14) reads 55.34. Supports are ascending from 1.5844, 1.5886, 1.5914 and 1.5950. Spot is currently 1.5994 while resistances are 1.5995,1.6020 and 1.6055.
The markets attentions have turned to the details of the resolution and how long this ceiling can hold up for. Beyond this the focus once again shifts towards the Fed and of course Yellen and continuation of QE/Tapering. From the calendar, for GBP, Research teams at TD Securities said CPI was a little stronger than expected at 2.7% Y/Y in Sept (mkt 2.6%), unchanged from August...”the focus will be on the unemployment rate, where analysts are split for tomorrow’s reading between looking for unchanged at 7.7% or another notch lower at 7.6%”.
GBP/USD Levels
The 20 DMA is 1.6063, the 50 DMA is 1.57.99 and the 200 DMA is 1.5476 RSI (14) reads 55.34. Supports are ascending from 1.5844, 1.5886, 1.5914 and 1.5950. Spot is currently 1.5994 while resistances are 1.5995,1.6020 and 1.6055.