15 Nov 2013
GBP/USD facing very short-term resistance at 1.6070
FXstreet.com (Barcelona) - The GBP/USD is operating on technicals only due to a dearth of data until the US session Friday. The technicals say resistance is just above current levels at 1.6070.
GBP/USD traders looking forward to US data
Friday’s schedule of data likely to affect the GBP/USD includes: US import / export prices; US Industrial Production and Capacity Utilization; US Wholesale Inventories; and the US NY Empire state Manufacturing Index. Notice there is no news flow from Britain on that list.
Technical outlook for GBP/USD
Technicians say that GBP/USD is still comfortably above key support at 1.5902 for the time being. Shorter-term support comes in at today’s low of 1.6050. First resistance comes in at the very short-term “correction support” at 1.6070. More important resistance for GBP/USD comes in at Thursday’s peak of 1.6100 with the 10/22 close of 1.6113 just above that.
GBP/USD traders looking forward to US data
Friday’s schedule of data likely to affect the GBP/USD includes: US import / export prices; US Industrial Production and Capacity Utilization; US Wholesale Inventories; and the US NY Empire state Manufacturing Index. Notice there is no news flow from Britain on that list.
Technical outlook for GBP/USD
Technicians say that GBP/USD is still comfortably above key support at 1.5902 for the time being. Shorter-term support comes in at today’s low of 1.6050. First resistance comes in at the very short-term “correction support” at 1.6070. More important resistance for GBP/USD comes in at Thursday’s peak of 1.6100 with the 10/22 close of 1.6113 just above that.