8 Nov 2013
GBP/USD battling for the 1.60 handle
FXstreet.com (London) - GBP/USD has made a low of 1.5956 post NFP’s and is losing a battle to hold onto the 1.60 handle towards the remaining hours of this weeks session.
In North America, GBP/USD is trading sub 1.6000 in 1.5990 and down 0.52% with the dollar higher cross the board on the release of Non Farm Payrolls (Oct) surprised to the upside at 204K vs the 125k consensus. At the same time the Unemployment Rate was in line with consensus for Oct at 7.3%, Personal Income month on month was up for (Sep) at 0.5% vs 0.3% consensus and Core PCE year on year marginally down at 1.2% vs 1.3% consensus. Traders will now wait for the UK’s inflation report and unemployment rate for positioning in the pound while tapering for Dec is still under question keeping markets attentive to data flows from the US.
GBP/USD Levels
The 20 DMA is 1.6075, the 50 DMA is 1.5981 and the 200 DMA is 1.5491. RSI (14) reads 50.66. Supports are ascending from 1.5949, 1.5980 and 1.6010. Spot is currently 1.5992 while resistances are 1.6005, 1.6043, 1.6097, 1.6118, 1.6150, 1.6174 and 1.6207.
In North America, GBP/USD is trading sub 1.6000 in 1.5990 and down 0.52% with the dollar higher cross the board on the release of Non Farm Payrolls (Oct) surprised to the upside at 204K vs the 125k consensus. At the same time the Unemployment Rate was in line with consensus for Oct at 7.3%, Personal Income month on month was up for (Sep) at 0.5% vs 0.3% consensus and Core PCE year on year marginally down at 1.2% vs 1.3% consensus. Traders will now wait for the UK’s inflation report and unemployment rate for positioning in the pound while tapering for Dec is still under question keeping markets attentive to data flows from the US.
GBP/USD Levels
The 20 DMA is 1.6075, the 50 DMA is 1.5981 and the 200 DMA is 1.5491. RSI (14) reads 50.66. Supports are ascending from 1.5949, 1.5980 and 1.6010. Spot is currently 1.5992 while resistances are 1.6005, 1.6043, 1.6097, 1.6118, 1.6150, 1.6174 and 1.6207.