Forex: GBP/USD back above 1.6000
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The sterling is gathering pace again, returning to levels above the key psychological mark at 1.6000 as risk aversion is now taking a breather.
Stronger-than-expected NFP figures have dragged the pound to levels sub 1.6000, and the decline was later accentuated after the poor NIESR GDP estimate for the three months ending in November, at +0.1%.
The cross is now losing 0.20% at 1.6016 with the next support lying at 1.5988 (low Nov.30) followed by 1.5975 (MA21d) and then 1.5962 (low Nov.28).
On the flip side, a breakout of 1.6056 (high Nov.27) would bring 1.6131 (high Dec.4) en route to 1.6133 (high Nov.2).
Stronger-than-expected NFP figures have dragged the pound to levels sub 1.6000, and the decline was later accentuated after the poor NIESR GDP estimate for the three months ending in November, at +0.1%.
The cross is now losing 0.20% at 1.6016 with the next support lying at 1.5988 (low Nov.30) followed by 1.5975 (MA21d) and then 1.5962 (low Nov.28).
On the flip side, a breakout of 1.6056 (high Nov.27) would bring 1.6131 (high Dec.4) en route to 1.6133 (high Nov.2).
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