21 Aug 2013
GBP/USD highs 1.5677
FXstreet.com (Barcelona) - GBP/USD is finding bids in London’s opening hours taking the pair towards 1.5680 resistances.
GBP/USD has been eyeing the 1.5700 psychological handle from the start of the week, but with the anticipation of the FOMC minutes coming up tonight, markets have been cautious around the outcome and trading has got off to a slow pace this week so far. The pair has remained in a tight range between 1.5630 and 1.5700. The calendar is very light this morning and into the afternoon for the pair asl well, but the key focus today will clearly be the minutes from the July 30-31 FOMC tonight as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
GBP/USD eyes 200 DMA
The GBP/USD eyes the uptrend resistance through 1.5700 towards 1.5750 and the June peak and 200 DMA. A wave towards 1.5420 ad closes below would signal a correction targeting the bottom on the channel once again. The 20 DMA is 1.5425, the 50 DMA is 1.5349 and the 200 DMA is 1.5521. RSI (9) is 72.17. Supports are ascending from 1.5548, 1.5574, 1.5607 and 1.5629. Spot is currently while resistances are 1.5665, 1.5696, 1.5709, 1.5723 and 1.5753.
GBP/USD has been eyeing the 1.5700 psychological handle from the start of the week, but with the anticipation of the FOMC minutes coming up tonight, markets have been cautious around the outcome and trading has got off to a slow pace this week so far. The pair has remained in a tight range between 1.5630 and 1.5700. The calendar is very light this morning and into the afternoon for the pair asl well, but the key focus today will clearly be the minutes from the July 30-31 FOMC tonight as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
GBP/USD eyes 200 DMA
The GBP/USD eyes the uptrend resistance through 1.5700 towards 1.5750 and the June peak and 200 DMA. A wave towards 1.5420 ad closes below would signal a correction targeting the bottom on the channel once again. The 20 DMA is 1.5425, the 50 DMA is 1.5349 and the 200 DMA is 1.5521. RSI (9) is 72.17. Supports are ascending from 1.5548, 1.5574, 1.5607 and 1.5629. Spot is currently while resistances are 1.5665, 1.5696, 1.5709, 1.5723 and 1.5753.