26 May 2015
GBP/USD tracking EUR swings – AceTrader
FXStreet (Barcelona) - With GBP/USD trading near a new low after triggering stops below 1.5455, the AceTrader Team believes that today’s price action in the pair will track the moves in the single currency.
Key Quotes
“Cable languishes above intra-day 2-week low of 1.5432 after falling in tandem with eur/usd at Asian open, triggering stops below 1.5455 and 1.5445 on the way down.”
“However, sterling's decline is relatively less severe as compared to euro as eur/gbp cross pair is trading near Monday's fresh 2-month low at 0.7073.”
“Looks like cable would track intra-day swings in eur/usd in European morning as the only U.K. data due out is CBI distributive trades which will be released at 10:00GMT.”
“Order book is pretty thin due to closure of U.K. markets on Monday for Spring Bank holiday, now, offers are tipped at 1.5460/70 and more above with stops touted at 1.5510.”
“Some bids are touted at 1.5430-20 with some stops below 1.5390.”
Key Quotes
“Cable languishes above intra-day 2-week low of 1.5432 after falling in tandem with eur/usd at Asian open, triggering stops below 1.5455 and 1.5445 on the way down.”
“However, sterling's decline is relatively less severe as compared to euro as eur/gbp cross pair is trading near Monday's fresh 2-month low at 0.7073.”
“Looks like cable would track intra-day swings in eur/usd in European morning as the only U.K. data due out is CBI distributive trades which will be released at 10:00GMT.”
“Order book is pretty thin due to closure of U.K. markets on Monday for Spring Bank holiday, now, offers are tipped at 1.5460/70 and more above with stops touted at 1.5510.”
“Some bids are touted at 1.5430-20 with some stops below 1.5390.”