3 Sep 2013
GBP/USD climbs to 1.5570
FXstreet.com (London) - GBP/USD has climbed away from the sessions lows at 1.5520 to reach into the 1.5570’s.
GBP/USD has seen stronger UK data and this data reinforced the trend of strong UK releases lately. Meanwhile, the US has also seen improvements in the economy when Construction Spending came in at 0.6% vrs 0.3%. With there being a light calendar for the rest of the NA session, the BoE on Thursday is going to b main UK event for the week, where there is still the risk that the Bank attempts to push back on market expectations for the timing of an eventual rate hike. Then the US payrolls will be in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”
GBP/USD levels
The 20 DMA is 1.5544, the 50 DMA is 1.5543 and the 200 DMA is 1.5504. RSI (14) reads 52.76. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507 and 1.5520. Spot is 1.5570 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677.
GBP/USD has seen stronger UK data and this data reinforced the trend of strong UK releases lately. Meanwhile, the US has also seen improvements in the economy when Construction Spending came in at 0.6% vrs 0.3%. With there being a light calendar for the rest of the NA session, the BoE on Thursday is going to b main UK event for the week, where there is still the risk that the Bank attempts to push back on market expectations for the timing of an eventual rate hike. Then the US payrolls will be in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”
GBP/USD levels
The 20 DMA is 1.5544, the 50 DMA is 1.5543 and the 200 DMA is 1.5504. RSI (14) reads 52.76. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507 and 1.5520. Spot is 1.5570 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677.