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16 Sep 2013
GBP/USD tuning south, capped at 1.5965
FXstreet.com (London) - GBP/USD has been offered towards 1.5920 since reaching 8 month highs at 1.5965. The pair now risks closing the gap to 1.5880.
GBP/USD had enjoyed yet further weakness in the dollar as the pre tapering risk off has continued to unwind across markets. The Hawk’s, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job. Therefore, markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events, from BoE Minutes, Fed Interest Rate Decision to CPI’s for both US and UK.
GBP/USD levels
The 20 DMA is 1.5633, the 50 DMA is 1.5433 and the 200 DMA is 1.5488. RSI (14) reads 70. Supports are ascending from 1.5819, 1.5835, 1.5869 and 1.5885. Spot is currently 1.5923 while resistances are 1.5970, 1.5992, 1.6010, 1.6040 and 1.6080.
GBP/USD had enjoyed yet further weakness in the dollar as the pre tapering risk off has continued to unwind across markets. The Hawk’s, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job. Therefore, markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events, from BoE Minutes, Fed Interest Rate Decision to CPI’s for both US and UK.
GBP/USD levels
The 20 DMA is 1.5633, the 50 DMA is 1.5433 and the 200 DMA is 1.5488. RSI (14) reads 70. Supports are ascending from 1.5819, 1.5835, 1.5869 and 1.5885. Spot is currently 1.5923 while resistances are 1.5970, 1.5992, 1.6010, 1.6040 and 1.6080.