28 May 2013
GBP/USD trading 1.5100 pre London open
FXstreet.com (London) - The GBP/USD has drifted lower from 1.5152 in quiet European markets and extending losses over night dropping to 1.5064.
The pair managed to par those losses back above the figure and has been oscillating in a tight range between 1.5100 and 1.5113. While there isn't anything data wise for the UK today, there are more May surveys coming up for the US heading into next week’s payrolls. The market expects a flat reading in the Richmond Fed and improvements in the Dallas Fed (from -15.6 to -10) and Conference Board Consumer Confidence (from 68.1 to 70.7). Support is at 1.5063 followed by 1.5013 (previous week low).
The pair managed to par those losses back above the figure and has been oscillating in a tight range between 1.5100 and 1.5113. While there isn't anything data wise for the UK today, there are more May surveys coming up for the US heading into next week’s payrolls. The market expects a flat reading in the Richmond Fed and improvements in the Dallas Fed (from -15.6 to -10) and Conference Board Consumer Confidence (from 68.1 to 70.7). Support is at 1.5063 followed by 1.5013 (previous week low).