2 Jul 2013
GBP/USD opening on the bid
FXstreet.com (London) - GBP/USD is opening in the European session on the bid, traveling from 1.5206 into 1.5220’s
GBP/USD sold off yesterday at the open as Mark Carneys accession to the BOE was taken as an excuse in London to sell pounds taking cable lower 1.5230 to 1.5185. Then, Manufacturing PMI came in much stronger at 52.5 vs 51.4 prompting short covering in cable. Real money demand took us to 1.5245 from 1.5185 on the data. The market will be looking to MPC and NFP's this week for direction in this pair.
GBP/USD eyes barrier 1.5280
GBP/USD might wish to tackle last Friday’s high, 1.5280, while initial test will come from the 55 day EMA at 1.5250. On the downside, support comes in 1.5182 and breaks below could open up a strong bearish move. Res: 1.5250; 1.5280; 1.5300; 1.5320. Sup: 1.5182; 1.5164; 1.5109; 1.5032
GBP/USD sold off yesterday at the open as Mark Carneys accession to the BOE was taken as an excuse in London to sell pounds taking cable lower 1.5230 to 1.5185. Then, Manufacturing PMI came in much stronger at 52.5 vs 51.4 prompting short covering in cable. Real money demand took us to 1.5245 from 1.5185 on the data. The market will be looking to MPC and NFP's this week for direction in this pair.
GBP/USD eyes barrier 1.5280
GBP/USD might wish to tackle last Friday’s high, 1.5280, while initial test will come from the 55 day EMA at 1.5250. On the downside, support comes in 1.5182 and breaks below could open up a strong bearish move. Res: 1.5250; 1.5280; 1.5300; 1.5320. Sup: 1.5182; 1.5164; 1.5109; 1.5032