Forex: GBP/USD calmer after London opening low
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - Down to 1.6071 low on the London opening, the GBPUSD has been trading sideways since then, keeping itself from further downside. No relevant UK data is released today and the economic calendar will be empty after the publication of Germany's industrial production.
The EMU Sentix Investor Confidence improved in October, but less than expected, from -23.2 to -22.2 (consensus of -20.8). Earlier, Germany saw its trade surplus widening and exports rising its pace in August. In Switzerland, the monthly and annualized CPI came in as expected, at +0.3% (from +0.3%) and -0.4% (from -0.5%) in September, as expected.
"Our negative bias will be maintained below 1.6310 - only above here would introduce scope for a move to extend to the 2009-2012 resistance line at 1.6495", wrote analyst Karen Jones, not favoring this scenario, pointing to initial resistance at 1.6228 and targeting 1.5912/00 (50% retracement of the move up from July and also the 23rd August high).
The EMU Sentix Investor Confidence improved in October, but less than expected, from -23.2 to -22.2 (consensus of -20.8). Earlier, Germany saw its trade surplus widening and exports rising its pace in August. In Switzerland, the monthly and annualized CPI came in as expected, at +0.3% (from +0.3%) and -0.4% (from -0.5%) in September, as expected.
"Our negative bias will be maintained below 1.6310 - only above here would introduce scope for a move to extend to the 2009-2012 resistance line at 1.6495", wrote analyst Karen Jones, not favoring this scenario, pointing to initial resistance at 1.6228 and targeting 1.5912/00 (50% retracement of the move up from July and also the 23rd August high).
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