4 Nov 2013
GBP/USD recouping a good percentage of the post-Fisher losses ahead of data
FXstreet.com (Barcelona) - The GBP/USD is regaining some of the losses felt after Fed Head Fisher’s hawkish comments hit the wires earlier in the session.
GBP/USD traders looking to data from both Britain and the US Monday
Early in Monday’s European session, GBP/USD traders will be reacting to British Construction PMI for October. Later, during the US session, there will be more Fed Head speeches, the US ISM New York Index and US Factory Order data for traders to digest.
Technical outlook for GBP/USD
Technicians say that GBP/USD’s next support below today’s low of 1.5902 comes in at the Elliott Wave projected range of 1.5870 to 1.5890. Resistance comes in at the Fibonacci retracement levels of 1.5946 and 1.5969.
GBP/USD traders looking to data from both Britain and the US Monday
Early in Monday’s European session, GBP/USD traders will be reacting to British Construction PMI for October. Later, during the US session, there will be more Fed Head speeches, the US ISM New York Index and US Factory Order data for traders to digest.
Technical outlook for GBP/USD
Technicians say that GBP/USD’s next support below today’s low of 1.5902 comes in at the Elliott Wave projected range of 1.5870 to 1.5890. Resistance comes in at the Fibonacci retracement levels of 1.5946 and 1.5969.