19 Nov 2013
GBP/USD bearish on 1.61 handle
FXstreet.com (London) - GBP/USD is fighting to keep hold of the 1.61 handle, but the charts are lining up bearish signals and the pair has marked a low of 1.6059 on the session already.
GBP/USD 1.6060 is offering the bears a tough obstacle to break through with a number of failed attempts so far. The pair climbed steeply to reach 1.6120 on the previous attempt. Meanwhile, For the dollar, as Investec’s Currency team points out, “Bernanke’s speech late this evening will be closely watched but the market anticipates he will tow the same line as Yellen and continue the dovish bias with tapering expected to be delayed until around March next year”.
GBP/USD Level’s
The 20 DMA is 1.6070, the 50 DMA is 1.6043 and the 200 DMA is 1.5503. RSI (14) reads 49.48. Supports are ascending from 1.5963, 1.5988, 1.6048, 1.6082, 1.6102, 1.6131, 1.6149, 1.6207 and 1.6262.
GBP/USD 1.6060 is offering the bears a tough obstacle to break through with a number of failed attempts so far. The pair climbed steeply to reach 1.6120 on the previous attempt. Meanwhile, For the dollar, as Investec’s Currency team points out, “Bernanke’s speech late this evening will be closely watched but the market anticipates he will tow the same line as Yellen and continue the dovish bias with tapering expected to be delayed until around March next year”.
GBP/USD Level’s
The 20 DMA is 1.6070, the 50 DMA is 1.6043 and the 200 DMA is 1.5503. RSI (14) reads 49.48. Supports are ascending from 1.5963, 1.5988, 1.6048, 1.6082, 1.6102, 1.6131, 1.6149, 1.6207 and 1.6262.