Forex: GBP/USD floating around 1.6035/40
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The sterling is recovering some ground lost overnight, trading in the 16040 region as of writing, ahead of the CB Leading Economic index for September.
GBP demand has been spurred yesterday after upbeat tone from the euro zone has spread over the rest of the market, after a well-received Italian auction has offset the pessimism brought in by the S&P downgrade to Spain. Then, a solid print out of the weekly report on US employment have boosted the risk appetite further.
At the moment, the cross is posting marginal losses at 1.6033, or -0.04%.
Next support levels lie at 1.5975 (lows Oct.9-10) ahead of 1.5960 (low Sep.10) then 1.5923 (low Sep.7) and 1.5915(MA55d).
On the upside, a break above 1.6086 (MA10d) woould expose 1.6142 (high Oct.8) then 1.6152 (MA21d) and 1.6218 (high Oct.5).
GBP demand has been spurred yesterday after upbeat tone from the euro zone has spread over the rest of the market, after a well-received Italian auction has offset the pessimism brought in by the S&P downgrade to Spain. Then, a solid print out of the weekly report on US employment have boosted the risk appetite further.
At the moment, the cross is posting marginal losses at 1.6033, or -0.04%.
Next support levels lie at 1.5975 (lows Oct.9-10) ahead of 1.5960 (low Sep.10) then 1.5923 (low Sep.7) and 1.5915(MA55d).
On the upside, a break above 1.6086 (MA10d) woould expose 1.6142 (high Oct.8) then 1.6152 (MA21d) and 1.6218 (high Oct.5).
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