Forex: GBP/USD continues declines throughout Europe
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GBP/USD
FXstreet.com (Barcelona) - Having steadily declined since posting an early morning high at 1.6020, GBPUSD has sharply declined to seek support at 1.5950.
The overnight spike higher saw spot launch an unconvincing assault on 1.6000, only to be swiftly rejected after making partial gains following reports that Greece may see a further delay in the receiving the next tranche in its aid. Economic data today has been fairly positive but with macro risk sentiment taking precedence, downside pressures have prevailed.
With the European calendar completed, attention now passes to the US session where Import and Export price Index figures are released at 13:30 GMT and Wholesale Inventories at 15:00 GMT. Forex Ticket analysts are neutral on the pair and see support and resistance as falling at 1.5970/1.5930/1.5900 and 1.6020/1.6040/1.6085 respectively.
The overnight spike higher saw spot launch an unconvincing assault on 1.6000, only to be swiftly rejected after making partial gains following reports that Greece may see a further delay in the receiving the next tranche in its aid. Economic data today has been fairly positive but with macro risk sentiment taking precedence, downside pressures have prevailed.
With the European calendar completed, attention now passes to the US session where Import and Export price Index figures are released at 13:30 GMT and Wholesale Inventories at 15:00 GMT. Forex Ticket analysts are neutral on the pair and see support and resistance as falling at 1.5970/1.5930/1.5900 and 1.6020/1.6040/1.6085 respectively.
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