22 Jan 2014
GBP/USD perched for the 1.68 handle?
FXstreet.com (Guatemala) - GBP/USD is trading just shy of the 1.66 handle within an ascending channel that so far shows little sign reversing while the trend continues to probe the top side.
GBP/USD bid post the labour surprises. Mealwhile, strategists at Brown Brothers Harriman explained that the Bank of England meeting earlier this month showed a greater recognition that the economy's spare capacity may be limited, which would seem to warn of the risk of upward pressure on prices. “ At the same time, it tried to reassure investors that the 7% employment threshold will not trigger a rate hike. It was shortly after that that the UK reported that the ILO measure of unemployment fell to 7.1% from 7.4% in November. Separately, the claimant count fell 24k in December, a quarter less than expected, and the November decline was revised to 34.3k from 36.7k. Average weekly earnings were unchanged at 0.9% on a 3-month y/y basis, unchanged from October, but a little less than the consensus had expected. Tighter labor market conditions are not pushing up wages”.
GBP/USD Levels
The 20 DMA is 1.6441, the 50 DMA is 1.6346 and the 200 DMA is 1.5771. RSI (14) reads 66. Supports are ascending from 1.6309, 1.6492, 1.6518 and 1.6535. Spot is 1.6566 while next resistance is 1.6580 ahead of the new handle.
GBP/USD bid post the labour surprises. Mealwhile, strategists at Brown Brothers Harriman explained that the Bank of England meeting earlier this month showed a greater recognition that the economy's spare capacity may be limited, which would seem to warn of the risk of upward pressure on prices. “ At the same time, it tried to reassure investors that the 7% employment threshold will not trigger a rate hike. It was shortly after that that the UK reported that the ILO measure of unemployment fell to 7.1% from 7.4% in November. Separately, the claimant count fell 24k in December, a quarter less than expected, and the November decline was revised to 34.3k from 36.7k. Average weekly earnings were unchanged at 0.9% on a 3-month y/y basis, unchanged from October, but a little less than the consensus had expected. Tighter labor market conditions are not pushing up wages”.
GBP/USD Levels
The 20 DMA is 1.6441, the 50 DMA is 1.6346 and the 200 DMA is 1.5771. RSI (14) reads 66. Supports are ascending from 1.6309, 1.6492, 1.6518 and 1.6535. Spot is 1.6566 while next resistance is 1.6580 ahead of the new handle.