13 Dec 2013
Flash: GBP/USD turning signs -TDS
FXstreet.com (London) - Strategists at TD Securities said that the better than expected UK construction activity data for October overnight confirmed some of the optimism from recent survey data.
Key Quotes:
“GBP/USD has nevertheless been under pressure along with the broad strength of the USD, and the focus on the US side of the equation could continue through the North American session with little on the calendar and markets contemplating next week’s FOMC meeting”.
“Technically speaking, the overnight selloff does further damage to the bull trend of the past month, and the break below short term trend support in recent hours suggests more downside in the coming sessions”.
“The long term charts are also showing signs of a turn lower, particularly with a weekly close below 1.63”.
Key Quotes:
“GBP/USD has nevertheless been under pressure along with the broad strength of the USD, and the focus on the US side of the equation could continue through the North American session with little on the calendar and markets contemplating next week’s FOMC meeting”.
“Technically speaking, the overnight selloff does further damage to the bull trend of the past month, and the break below short term trend support in recent hours suggests more downside in the coming sessions”.
“The long term charts are also showing signs of a turn lower, particularly with a weekly close below 1.63”.