10 Jul 2013
GBP/USD jumps to intra-week highs on QE wrap up timing doubts
FXstreet.com (San Francisco) - The Sterling reacted higher against the Greenback following the FOMC minutes release on arising doubts the FED will start tapering this September. The GBP/USD jumped around 70 pips in minutes to test the 1.4990 as fresh intra-week high.
Low volumes along doubts on the QE ending as soon as this year fueled the pair. However, the GBP/USD was unable to hold gains and it retreated fast to previous levels. Now the cable is trading at 1.4930.
The GBP/USD is currently 0.43% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD and Momentum are pointing to the north while the CCI is bearish and the Stochastic is neutral.
Low volumes along doubts on the QE ending as soon as this year fueled the pair. However, the GBP/USD was unable to hold gains and it retreated fast to previous levels. Now the cable is trading at 1.4930.
The GBP/USD is currently 0.43% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD and Momentum are pointing to the north while the CCI is bearish and the Stochastic is neutral.