3 Dec 2013
GBP/USD clearing weekly resistance?
FXstreet.com (London) - GBP/USD is currently 1.6400 with the highs of 1.6439 in proximity.
GBP/USD is trading in the realms of weekly highs and markets are turning pro the pound in the wake of risk aversion and more up beat data from the UK. This week will now start to hot up with both UK and US data releases before holiday markets kick in. Strategists at TD Securities said that tomorrow’s services PMI is the last key release ahead of the BoE on Thursday, and after upside surprises on this figure for nearly a year, the risks for tomorrow’s print still lie to upside and could further add to the GBP’s recent rise.
GBP/USD Levels
The 20 DMA is 1.6142, the 50 DMA is 1.6105 and the 200 DMA is 1.5545. RSI (14) reads 71.09. Supports are ascending from 1.6298, 1.6310 and 1.6343. Spot is 1.6400 while resistances are 1.6385, 1.6443, 1.6455 and 1.6475.
GBP/USD is trading in the realms of weekly highs and markets are turning pro the pound in the wake of risk aversion and more up beat data from the UK. This week will now start to hot up with both UK and US data releases before holiday markets kick in. Strategists at TD Securities said that tomorrow’s services PMI is the last key release ahead of the BoE on Thursday, and after upside surprises on this figure for nearly a year, the risks for tomorrow’s print still lie to upside and could further add to the GBP’s recent rise.
GBP/USD Levels
The 20 DMA is 1.6142, the 50 DMA is 1.6105 and the 200 DMA is 1.5545. RSI (14) reads 71.09. Supports are ascending from 1.6298, 1.6310 and 1.6343. Spot is 1.6400 while resistances are 1.6385, 1.6443, 1.6455 and 1.6475.