Forex: GBP/USD makes double top at 1.6051
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GBP/USD
FXstreet.com (Barcelona) - Having found support around the 38.2% retracement point from Friday afternoon's spike, GBPUSD has climbed throughout the US and Asian session to confirm the previous weeks high at 1.6051.
The pair has since declined in the build up to the European open and looks to be finding a touch of support around the classic R1 level at 1.6045. The move higher follows news tat Eurozone leader and the IMF have struck a deal to agree on Greek debt being reduced to 124% of GDP by 2020. This morning has also seen German Import Price Index figures come in mixed while the Swiss Consumption index rose in September.
Ahead, UK GDP is the stand out event this morning at 09:30 GMT alongside Index of Services and Total Business Investment which wraps up the European Calendar. The Danske research team are currently neutral on the pair having missed an opportunity to buy yesterday at 1.5890. Elsewhere, Asian stocks finished higher, European futures look like Cash Equities may follow suit and commodities are mixed to higher ahead of the European open.
The pair has since declined in the build up to the European open and looks to be finding a touch of support around the classic R1 level at 1.6045. The move higher follows news tat Eurozone leader and the IMF have struck a deal to agree on Greek debt being reduced to 124% of GDP by 2020. This morning has also seen German Import Price Index figures come in mixed while the Swiss Consumption index rose in September.
Ahead, UK GDP is the stand out event this morning at 09:30 GMT alongside Index of Services and Total Business Investment which wraps up the European Calendar. The Danske research team are currently neutral on the pair having missed an opportunity to buy yesterday at 1.5890. Elsewhere, Asian stocks finished higher, European futures look like Cash Equities may follow suit and commodities are mixed to higher ahead of the European open.
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