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19 Sep 2013
GBP/USD flat-lining at 1.6130, UK data eyed
FXstreet.com (Edinburgh) -The sterling has rapidly left behind the 1.60 and 1.61 handles on Wednesday, pushing the GBP/USD to 8-month highs around 1.6125/30.
GBP/USD bolstered by Fed, retail sales eyed
A mega-dovish FOMC statement and subsequent press conference by Chairman Bernanke left the current bond buying unchanged at a monthly pace of $85 billion. The announcements sharply contrasted with expectations for a light start of a tapering process, involving $5-$10 billion, punishing the greenback and catapulting the pair. Ahead in the day, UK Retail Sales are due, with prior surveys expecting a monthly advance of 0.4% in August.
GBP/USD relevant levels
As of writing the pair is retreating 0.08% at 1.6132 with the next support at 1.5893 (low Sep18) ahead of 1.5886 (low Sep.17) and finally 1.5689 (low Sep.16). On the upside, the initial barrier aligns at 1.6156 (high Jan.14).
GBP/USD bolstered by Fed, retail sales eyed
A mega-dovish FOMC statement and subsequent press conference by Chairman Bernanke left the current bond buying unchanged at a monthly pace of $85 billion. The announcements sharply contrasted with expectations for a light start of a tapering process, involving $5-$10 billion, punishing the greenback and catapulting the pair. Ahead in the day, UK Retail Sales are due, with prior surveys expecting a monthly advance of 0.4% in August.
GBP/USD relevant levels
As of writing the pair is retreating 0.08% at 1.6132 with the next support at 1.5893 (low Sep18) ahead of 1.5886 (low Sep.17) and finally 1.5689 (low Sep.16). On the upside, the initial barrier aligns at 1.6156 (high Jan.14).