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Forex pairs in this Article » GBP/USD (London) - GBP/USD remains on the back foot, supported 1.6140 ahead of what will be a busy week.

Overall, the dollar is little changed ahead of the FOMC while Sterling is down over 100 pips from Fridays move. Meanwhile, BoE Deputy Governor Bean to be the most important raised the prospect of the MPC moving the current 7% unemployment rate threshold. To some extent the BoE's unemployment forecasts have lost some credibility. Industrial production printed better 0.6%vs 0.4% for the US and now we await US data in the form of retail sales for Tuesday, CPI Wednesday, Chicago PMI Thurs, ISM Friday.

GBP/USD Levels

The 20 DMA is 1.6099, the 50 DMA is 1.5899 and the 200 DMA is 1.5480. RSI (18) reads 56.98. Supports are ascending from 1.6076, 1.6110, and 1.6138. Spot is currently 1.6142 while resistances are 1.6180, 1.6260, 1.6310, 1.6380 and 1.6421.
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