Back
10 Feb 2014
GBP/USD struggles to regain 1.6400
FXStreet (Edinburgh) - The sterling is posting marginal loses on Monday, with the GBP/USD struggling to recover the 1.6400 handle after dipping to the 1.6380 area.
GBP/USD under pressure ahead of the QIR?
Big week ahead for the sterling, as the BoE’s Quarterly Inflation Report is due on Wednesday. All the attention would be on Governor Carney’s speech and his remarks on the current forward guidance. “Against the dollar, sterling's technical tone is constructive, with the RSI turning up and the MACDs set to cross early in the week ahead. The immediate target is the $1.6430-60 area, where a number of technical levels converge. Initial support is pegged near $1.6350”, observed analysts at BBH.
GBP/USD levels to consider
At the moment the pair is down 0.12% at 1.6395 with the next support at 1.6390 (low Feb.10) followed by 1.6299 (low Feb.7). On the upside, a break above 1.6432 (10-d MA) would open the door to 1.6449 (high Feb.3) and then 1.6452 (30-d MA).
GBP/USD under pressure ahead of the QIR?
Big week ahead for the sterling, as the BoE’s Quarterly Inflation Report is due on Wednesday. All the attention would be on Governor Carney’s speech and his remarks on the current forward guidance. “Against the dollar, sterling's technical tone is constructive, with the RSI turning up and the MACDs set to cross early in the week ahead. The immediate target is the $1.6430-60 area, where a number of technical levels converge. Initial support is pegged near $1.6350”, observed analysts at BBH.
GBP/USD levels to consider
At the moment the pair is down 0.12% at 1.6395 with the next support at 1.6390 (low Feb.10) followed by 1.6299 (low Feb.7). On the upside, a break above 1.6432 (10-d MA) would open the door to 1.6449 (high Feb.3) and then 1.6452 (30-d MA).