9 Dec 2013
GBP/USD ready for 1.6400?
FXstreet.com (Edinburgh) - The sterling continues to push higher on Monday, now pushing the GBP/USD to the boundaries of the key resistance at 1.6400.
GBP/USD focus on Carney
The pair is following the prevailing risk appetite, as the generalized selling pressure continues to punish the greenback despite last Friday’s Payrolls. There are no scheduled releases in the UK today, although Governor M.Carney’s speech later on would grab the attention amongst GBP traders. In the opinion of Paul Robson, Senior FX Strategist at RBS, “Last week saw a stalling/consolidation week, with the market testing both higher and lower. Our view remains very much that pullbacks lower should find support around 1.6225/50, while the 1.64/1.65 area should act as resistance”.
GBP/USD key levels
At the moment the pair is up 0.26% at 1.6386 with the initial resistance at 1.6393 (high Dec.6) followed by 1.6403 (high Dec.5) and then 1.6437 (high Dec.3). On the flip side, a breakdown of 1.6316 (low Dec.9) would open the door to 1.6294 (low Dec.6) and finally 1.6277 (low Nov.28).
GBP/USD focus on Carney
The pair is following the prevailing risk appetite, as the generalized selling pressure continues to punish the greenback despite last Friday’s Payrolls. There are no scheduled releases in the UK today, although Governor M.Carney’s speech later on would grab the attention amongst GBP traders. In the opinion of Paul Robson, Senior FX Strategist at RBS, “Last week saw a stalling/consolidation week, with the market testing both higher and lower. Our view remains very much that pullbacks lower should find support around 1.6225/50, while the 1.64/1.65 area should act as resistance”.
GBP/USD key levels
At the moment the pair is up 0.26% at 1.6386 with the initial resistance at 1.6393 (high Dec.6) followed by 1.6403 (high Dec.5) and then 1.6437 (high Dec.3). On the flip side, a breakdown of 1.6316 (low Dec.9) would open the door to 1.6294 (low Dec.6) and finally 1.6277 (low Nov.28).