22 Aug 2013
GBP/USD moves higher to test 1.5600
FXstreet.com (Barcelona) - GBP/USD has been heavily offered from above 1.5700 to print a low of a.5562 when the FOMC minutes were the theme of the markets overnight and these read a little more hawkish than expected, supporting the impression that September remains a likely starting point for reducing asset purchases.
On the calendar for today for the pair, the weekly initial unemployment claims is in focus. The results came out in initial jobless claims at 336K vs consensus 322k, so a slightly disappointing which takes the pair slightly higher moving in on the 1.5600 handle again from sub 1.5580. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking.
GBP/USD is testing 1.5600
GBP/USD has moved in on the handle and would be targeting the perimeters of the 200 week MA and June peak again at 1.5725/55 should it manage to advance through 1.5660 resistance. The pair is trading with a negative bias overall and towards the 200 DMA. The 20 DMA is 1.5442, the 50 DMA is 1.5348 while the 200 DMA is 1.5520. RSI (14) reads 34.32. Supports are ascending from 1.5497, 1.5510, 1.5548, 1.5574. Spot is currently 1.5591 while resistances are 1.5610, 1.5662 1.5696, 1.5723 and 1.5753
On the calendar for today for the pair, the weekly initial unemployment claims is in focus. The results came out in initial jobless claims at 336K vs consensus 322k, so a slightly disappointing which takes the pair slightly higher moving in on the 1.5600 handle again from sub 1.5580. The annual Jackson Hole conference for central bankers also starts today. However, there No prominent Fed speakers that are scheduled, so there shouldn’t be any new insight into Fed's monetary policy thinking.
GBP/USD is testing 1.5600
GBP/USD has moved in on the handle and would be targeting the perimeters of the 200 week MA and June peak again at 1.5725/55 should it manage to advance through 1.5660 resistance. The pair is trading with a negative bias overall and towards the 200 DMA. The 20 DMA is 1.5442, the 50 DMA is 1.5348 while the 200 DMA is 1.5520. RSI (14) reads 34.32. Supports are ascending from 1.5497, 1.5510, 1.5548, 1.5574. Spot is currently 1.5591 while resistances are 1.5610, 1.5662 1.5696, 1.5723 and 1.5753