4 Sep 2013
GBP/USD awaits key events, up from support 1.5520
FXstreet.com (London) - GBP/USD has been a slow play this afternoon in NA after attracting bids this morning at 1.5520 support.
“If cable is able to continuously hold above the 200-day MA (1.5502), it may well attempt to creep towards 1.5600 in the near term barring a positive USD disturbance this week”, said OCBC's Emmanuel Ng, FX Strategist. The BoE on Thursday is going to be the 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 1.5502. RSI (14) reads 56.98. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507. Spot is 1.5557 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677.
“If cable is able to continuously hold above the 200-day MA (1.5502), it may well attempt to creep towards 1.5600 in the near term barring a positive USD disturbance this week”, said OCBC's Emmanuel Ng, FX Strategist. The BoE on Thursday is going to be the 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 1.5502. RSI (14) reads 56.98. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507. Spot is 1.5557 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677.