4 Dec 2013
GBP/USD makes it through 1.6400
FXstreet.com (Edinburgh) - The pound is now picking up pace again, pushing the GBP/USD to test the surroundings of 1.6400 the figure ahead of the Fed’s Beige Book and tomorrow’s BoE.
GBP/USD choppy between 1.6330 and 1.6380
Quite erratic performance today for the pair, down from yesterday’s test of 1.6440 and now looking to convincingly break the 1.6330/80 range prevailing since the opening bell in London. The BoE MPC meeting is due tomorrow, although the FX universe practically ruled out any change of both the refi rate and the asset purchase facility, at 0.5% and £375 billion, respectively. According to analysts at BBH, “Sterling’s inability to push through $1.6440 yesterday left short-term momentum players a bit vulnerable. It was sold below $1.6330 before finding a bid. Resistance is now seen near $1.6380”.
GBP/USD critical levels
As of writing the pair is now advancing 0.02% at 1.6391with the initial resistance at 1.6397 (high Dec.4) followed by 1.6437 (high Dec.3) and finally 1.6443 (2013 high Dec.2). On the downside, a breach of 1.6326 (mín. Dic.4) would target 1.6315 (low Nov.29) en route to 1.6293 (MA10d).
GBP/USD choppy between 1.6330 and 1.6380
Quite erratic performance today for the pair, down from yesterday’s test of 1.6440 and now looking to convincingly break the 1.6330/80 range prevailing since the opening bell in London. The BoE MPC meeting is due tomorrow, although the FX universe practically ruled out any change of both the refi rate and the asset purchase facility, at 0.5% and £375 billion, respectively. According to analysts at BBH, “Sterling’s inability to push through $1.6440 yesterday left short-term momentum players a bit vulnerable. It was sold below $1.6330 before finding a bid. Resistance is now seen near $1.6380”.
GBP/USD critical levels
As of writing the pair is now advancing 0.02% at 1.6391with the initial resistance at 1.6397 (high Dec.4) followed by 1.6437 (high Dec.3) and finally 1.6443 (2013 high Dec.2). On the downside, a breach of 1.6326 (mín. Dic.4) would target 1.6315 (low Nov.29) en route to 1.6293 (MA10d).