Forex: GBP/USD holds overnight support below 1.59
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - GBPUSD ranged over night, making a high at 1.5898 and a low of 1.5878 during the Asia session.
The pair strengthened following news that Moody's had cut its outlook for the European Union but declined in the early hours after a Dovish RBA held rates at 3.5%. UK PMI construction data is due at 08:30 GMT followed by EU Producer Price Index figures at 089:00 GMT during the European session. The analysts at ICN.com see support at 1.5850/1.5820/1.5780 and resistance at 1.5805/1.5925/1.5950. They see today's trading ranges as finding key support and resistance between 1.5660 and 1.6075.
Asian equities closed lower whilst European Equities look poised to open lower.
The pair strengthened following news that Moody's had cut its outlook for the European Union but declined in the early hours after a Dovish RBA held rates at 3.5%. UK PMI construction data is due at 08:30 GMT followed by EU Producer Price Index figures at 089:00 GMT during the European session. The analysts at ICN.com see support at 1.5850/1.5820/1.5780 and resistance at 1.5805/1.5925/1.5950. They see today's trading ranges as finding key support and resistance between 1.5660 and 1.6075.
Asian equities closed lower whilst European Equities look poised to open lower.
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