26 Nov 2013
GBP on the 1.62 handle
FXstreet.com (London) - GBP/USD has breached 1.62 and is attempting territory in 1.6220.
Strategists at RBS noted the focus for GBP/USD is the debate around Fed Tapering/Toughened Forward Guidance. “The USD is stronger against the commodity currencies, but weak against EUR and GBP. This is what happened the last time tapering was on the table. While the USD may do better versus EM, GBP/USD is expected to remain supported”.
GBP/USD Levels
The 20 DMA is 1.6065, the 50 DMA is 1.6076 and the 200 DMA 1.5518. Supports are ascending from 1.6060, 1.6072, 1.6093 ,1.6118 and 1.6205. Spot is currently 1.6211 while resistances are 1.6223 and 1.6241.
Strategists at RBS noted the focus for GBP/USD is the debate around Fed Tapering/Toughened Forward Guidance. “The USD is stronger against the commodity currencies, but weak against EUR and GBP. This is what happened the last time tapering was on the table. While the USD may do better versus EM, GBP/USD is expected to remain supported”.
GBP/USD Levels
The 20 DMA is 1.6065, the 50 DMA is 1.6076 and the 200 DMA 1.5518. Supports are ascending from 1.6060, 1.6072, 1.6093 ,1.6118 and 1.6205. Spot is currently 1.6211 while resistances are 1.6223 and 1.6241.