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17 Oct 2014
GBP/USD mixed at the highs of the week
FXStreet (Guatemala) - GBP/USD is trading at 1.6078, down -0.06% on the day, having posted a daily high at 1.6128 and low at 1.6029.
Sterling has been working through a tight range at the highs of the week but is actually flat to yesterdays close currently. There is little impetus to take on too much at the end of a very volatile week and with little data there wasn’t much reaction to BoE’s Haldane increasingly gloomy view of the economic backdrop either. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank suggested that the short‐term technical are mixed, explaining that this means there is probably better risk reward elsewhere. “Support lies at 1.6085, the open from Tuesday and resistance is at 1.6200."
GBP/USD noteworthy levels
Spot is presently trading at 1.6078, and next resistance can be seen at 1.6086 (Weekly Classic PP), 1.6087 (Daily Open), 1.6099 (Yesterday's High) and 1.6128 (Daily High). Next support to the downside can be found at 1.6077 (Hourly 20 EMA), 1.6055 (Hourly 200 SMA), 1.6043 (Daily Classic PP), 1.6029 (Daily Low) and 1.6005 (Hourly 100 SMA).
Sterling has been working through a tight range at the highs of the week but is actually flat to yesterdays close currently. There is little impetus to take on too much at the end of a very volatile week and with little data there wasn’t much reaction to BoE’s Haldane increasingly gloomy view of the economic backdrop either. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank suggested that the short‐term technical are mixed, explaining that this means there is probably better risk reward elsewhere. “Support lies at 1.6085, the open from Tuesday and resistance is at 1.6200."
GBP/USD noteworthy levels
Spot is presently trading at 1.6078, and next resistance can be seen at 1.6086 (Weekly Classic PP), 1.6087 (Daily Open), 1.6099 (Yesterday's High) and 1.6128 (Daily High). Next support to the downside can be found at 1.6077 (Hourly 20 EMA), 1.6055 (Hourly 200 SMA), 1.6043 (Daily Classic PP), 1.6029 (Daily Low) and 1.6005 (Hourly 100 SMA).