2 May 2014
GBP/USD regains 1.6880
FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls.
GBP/USD capped by 1.6900
Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is rising”, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after.
GBP/USD levels to watch
The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009).
GBP/USD capped by 1.6900
Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is rising”, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after.
GBP/USD levels to watch
The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009).