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Forex pairs in this Article » GBP/USD (London) - GBP/USD has performed well and there will be eye's on the 1.62 handle if the pair can manage a close at the start of the week above 1.6120.

From the calendar, the US TIC flows data was dollar bullish with an improvement vs the consensus, $21.3B against actual $25.5B. However, the main event today according to Danske Bank analysts was the NAHB housing index for the US which is the first indicator for the strength of the US housing market for November. The numbers came in negatively for the dollar and slightly down on the 55 consensus and reading 54. There was little reaction and the pair remains bid above 1.6120 support. Also, they noted, Fed's William Dudley (voter, dove) and Charles Plosser (voter, dove) are both scheduled to speak. “Dudley's speech will be the most important as his views are believed to be close to Ben Bernanke's and Janet Yellen's”.

GBP/USD Levels

The 20 DMA is 1.6072, the 50 DMA is 1.6034 and the 200 DMA is 1.5501. RSI (14) reads 52.32. Supports are ascending from 1.5963, 1.5988, 1.6048, 1.6089 and 1.6120. Spot is currently 1.6121 while resistances are 1.6136, 1.6150, 1.6207 and 1.6260.
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