20 Nov 2013
GBP/USD cracks down to 1.6098 session lows
FXstreet.com (Chicago) - GBP/USD fell to red territory after reacting negatively to the US FOMC minutes release. With a rather unsurprising position, the FOMC ratified there won’t be any change in monetary policy until solid data is not supportive of economic results.
Earlier in the UK, the BoE released its unchanged vote cut and vote hike at 0 with a BoE MPC vote unchanged at 9, matching expectations and prior results.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.6108 and oscillates between the supports aligned at 1.6081 (November 18th lows), 1.6047 (November 15th lows) ahead of 1.5991 (November 12th highs) and the resistances aligned at 1.6148 (November 18th highs), 1.6179 (November 20th highs) followed by 1.62 (October 28th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish on one-hour timeframe analysis and navigates below the EMA20.
Earlier in the UK, the BoE released its unchanged vote cut and vote hike at 0 with a BoE MPC vote unchanged at 9, matching expectations and prior results.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.6108 and oscillates between the supports aligned at 1.6081 (November 18th lows), 1.6047 (November 15th lows) ahead of 1.5991 (November 12th highs) and the resistances aligned at 1.6148 (November 18th highs), 1.6179 (November 20th highs) followed by 1.62 (October 28th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish on one-hour timeframe analysis and navigates below the EMA20.