5 Feb 2014
GBP/USD continues on the bid
FXStreet (Guatemala) - Despite a expected dovish BoE and better US data GBP/USD has continued higher and is penetrating 1.6320.
US January non-manufacturing ISM came in at 54.0 vrs 53.7 expected beating previous 53.0. Jane Foley, Senior Currency Strategist at Rabobank said Governor Carney made it clear in his speech in Davos last month that the evolution of forward guidance will start with next week’s Inflation Report. “Whether the Bank changes its unemployment rate threshold or water down its importance, the purpose will be to allow the Bank to remain dovish”. She went onto say, “We remain sellers on cable rallies…Near-term support is currently being offered by the 100 day sma at 1.6252”.
GBP/USD Levels
The 20 DMA is 1.6463, the 50 DMA is 1.6418 and the 200 DMA is 1.5828. Supports are ascending from 1.6198, 1.6220, 1.6257, 1.6290. spot is while resistances are 1.6320, 1.6353, 1.6366, 1.6420 and 1.6449.
US January non-manufacturing ISM came in at 54.0 vrs 53.7 expected beating previous 53.0. Jane Foley, Senior Currency Strategist at Rabobank said Governor Carney made it clear in his speech in Davos last month that the evolution of forward guidance will start with next week’s Inflation Report. “Whether the Bank changes its unemployment rate threshold or water down its importance, the purpose will be to allow the Bank to remain dovish”. She went onto say, “We remain sellers on cable rallies…Near-term support is currently being offered by the 100 day sma at 1.6252”.
GBP/USD Levels
The 20 DMA is 1.6463, the 50 DMA is 1.6418 and the 200 DMA is 1.5828. Supports are ascending from 1.6198, 1.6220, 1.6257, 1.6290. spot is while resistances are 1.6320, 1.6353, 1.6366, 1.6420 and 1.6449.