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Forex pairs in this Article » GBP/USD (London) - GBP/USD has continued on the bid from the mid point of todays range between 1.6116 and 1.6215.

Sterling has kept its form, regaining demand from 1.6170 and has climbed back into the 1.6200 territory since the release of the NFP’s data. With the news digested now in NA, levels in Sterling currently indicate that the pair may find resistance ahead of the recent highs in 1.6220. Elsewhere, UK public finance data came in line with expectations for PSNB ex. Research teams at TD Securities said, “Note that the PSNCR was quite a bit better than expected - this is the figure that's important when analysing gilt issuance - but it looks as though most of that is due to the sale of £3.2bn of Lloyds shares (not included in PSNB)”. Eyes now await the minutes from the BoE to see whether the MPC is becoming more hawkish.

GBP/USD Levels

The 20 DMA is 1.6074, the 50 DMA is 1.5848 and 200 DMA is 1.5476. RSI (14) 68.08. Supports are ascending from 1.6167 and 1.6181. Spot is currently 1.6206 while resistances are 1.6224, 1.6240 and 1.6274.
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