21 Nov 2013
GBP/USD flat, eyes on 1.6100
FXstreet.com (Edinburgh) - The sterling is attempting to break the overnight consolidation pattern on Thursday, pushing the GBP/USD to test the boundaries of 1.6100 the figure.
GBP/USD focus on UK, US data
The pair is attempting a recovery from intraday lows in the 1.6080/75 region during the Asian session, ahead of the UK docket: Public Sector Net Borrowing is expected to raise to £4.0 billion in October while the CBI Industrial Trends Survey would improve to 0 from -4 for the month of November. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “Coupled with a firmer dollar, the GBP-USD may attempt to stay submerged below 1.6100 and seek out the 55-day MA (1.6033) once again”.
GBP/USD levels to consider
At the moment the pair is losing 0.06% at 1.6095 facing the next support at 1.6065 (MA30d) ahead of 1.6060 (low Nov.19) and then 1.6056 (MA50d). On the flip side, a break above 1.6178 (high Nov.20) would target 1.6207 (high Oct.28) en route to 1.6248 (high Oct.25).
GBP/USD focus on UK, US data
The pair is attempting a recovery from intraday lows in the 1.6080/75 region during the Asian session, ahead of the UK docket: Public Sector Net Borrowing is expected to raise to £4.0 billion in October while the CBI Industrial Trends Survey would improve to 0 from -4 for the month of November. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “Coupled with a firmer dollar, the GBP-USD may attempt to stay submerged below 1.6100 and seek out the 55-day MA (1.6033) once again”.
GBP/USD levels to consider
At the moment the pair is losing 0.06% at 1.6095 facing the next support at 1.6065 (MA30d) ahead of 1.6060 (low Nov.19) and then 1.6056 (MA50d). On the flip side, a break above 1.6178 (high Nov.20) would target 1.6207 (high Oct.28) en route to 1.6248 (high Oct.25).