Forex: GBP/USD goes back and forth
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The GBPUSD is trading flat on the day, around 1.6015, but has tested the 1.6000 psychological level as support twice and rallied to 1.6026 high ahead of the London opening. Despite the volatility, the pair isn't taking any direction yet.
After UK Nationwide Housing Prices contracting further from -0.9% to -1.2% (YoY) in November, despite consensus of -0.9%, Mortgage Approvals in the UK rose from 50.024K to 53.000K in October, beating consensus of 51.000K. UK consumer credit was also published, down £-0.5B in October, disappointing the £0.4B consensus.
"My outlook remains positive, for a break through 1.6050 high, en route to 1.6175 major resistance", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to key support on the downside at the 1.5960-70 zone.
After UK Nationwide Housing Prices contracting further from -0.9% to -1.2% (YoY) in November, despite consensus of -0.9%, Mortgage Approvals in the UK rose from 50.024K to 53.000K in October, beating consensus of 51.000K. UK consumer credit was also published, down £-0.5B in October, disappointing the £0.4B consensus.
"My outlook remains positive, for a break through 1.6050 high, en route to 1.6175 major resistance", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to key support on the downside at the 1.5960-70 zone.
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