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17 Dec 2013
GBP/USD positioned for CPI
FXstreet.com (Barcelona) - Having made an overnight low at the open at 1.6291, GBP/USD has climbed overnight, to post a high at 1.6371, just above where spot is presently trading at 1.6361.
GBP/USD poised before glut of UK data
GBP/USD looks to be momentarily pausing for breath, before this mornings glut of UK data. This mornings docket includes CPI, the headline event, PPI, and RPI, all at 09:30 GMT. Later today, some cross pair volatility could be found with the German ZEW at 10:00 GMT and US CPI will come into focus at 13:30 GMT, but all Cable traders will be keeping one eye firmly fixed on tomorrows BoE minutes and FOMC meet.
What are today’s key GBP/USD levels?
The daily pivot point sits at 1.6315, with resistance above at 1.6341 (R1), 1.6377 (R2) and 1.6403 (R3), and support below at 1.6279 (S1), 1.6253 (S2) and 1.6217 (S3). The range between 1.6323-6289 should provide technical support with several levels clustered. Matt Bacon-Hall of FXBeat notes resistance above at 1.6360-70 with light offers and 1.6390-6410 with leveraged offers. Below he highlights immediate support at 1.6290 with sells stops, and 1.6260-50 with a range of bids positioned.
GBP/USD poised before glut of UK data
GBP/USD looks to be momentarily pausing for breath, before this mornings glut of UK data. This mornings docket includes CPI, the headline event, PPI, and RPI, all at 09:30 GMT. Later today, some cross pair volatility could be found with the German ZEW at 10:00 GMT and US CPI will come into focus at 13:30 GMT, but all Cable traders will be keeping one eye firmly fixed on tomorrows BoE minutes and FOMC meet.
What are today’s key GBP/USD levels?
The daily pivot point sits at 1.6315, with resistance above at 1.6341 (R1), 1.6377 (R2) and 1.6403 (R3), and support below at 1.6279 (S1), 1.6253 (S2) and 1.6217 (S3). The range between 1.6323-6289 should provide technical support with several levels clustered. Matt Bacon-Hall of FXBeat notes resistance above at 1.6360-70 with light offers and 1.6390-6410 with leveraged offers. Below he highlights immediate support at 1.6290 with sells stops, and 1.6260-50 with a range of bids positioned.