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15 Aug 2013
GBP/USD supported 1.5500
FXstreet.com (Barcelona) - GBP/USD is continuing on the bid overall. The pair did retreat from 1.5545 highs but has since drifted away from the figure 1.5500.
GBP/USD has is a slow starter in London, oscillating in a tight range around 1.5525/33 on a quiet European open. Today, attention will turn towards UK Retail Sales and US CPI. There are conflicting leading indicators for July retail sales, said Annette Beacher , Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities , with some major retailers reporting significant drops, but other survey data hinting at strength. “So on balance we expect a reading closer to flat (mkt +0.6%), with non-food stores pulling back after what seemed to be excessive strength the last couple of months, but food stores doing better in warmer and drier weather”.
GBP/USD consolidated at 200 DMA
GBP/USD is resting around the 200 dma with the august peak at 1.5575 capping the pair for the time being. There after, the May peak would come in to focus through 1.5600 handle en route for the 200 week MA and June highs 1.5750 area. The 20 dma is 1.5357, the 50 dma is 1.5345 and the 200 dma is 1.5526. RSI (9) reads 62.72. Supports are ascending from 1.5332, 1.5392, 1.5415, 1.5457 and 1.5508. Spot is currently 1.5530 with immediate resistances 1.5574, 1.5616 and 1.5649
GBP/USD has is a slow starter in London, oscillating in a tight range around 1.5525/33 on a quiet European open. Today, attention will turn towards UK Retail Sales and US CPI. There are conflicting leading indicators for July retail sales, said Annette Beacher , Head of Asia-Pacific Research, FX and Rates Strategy at TD Securities , with some major retailers reporting significant drops, but other survey data hinting at strength. “So on balance we expect a reading closer to flat (mkt +0.6%), with non-food stores pulling back after what seemed to be excessive strength the last couple of months, but food stores doing better in warmer and drier weather”.
GBP/USD consolidated at 200 DMA
GBP/USD is resting around the 200 dma with the august peak at 1.5575 capping the pair for the time being. There after, the May peak would come in to focus through 1.5600 handle en route for the 200 week MA and June highs 1.5750 area. The 20 dma is 1.5357, the 50 dma is 1.5345 and the 200 dma is 1.5526. RSI (9) reads 62.72. Supports are ascending from 1.5332, 1.5392, 1.5415, 1.5457 and 1.5508. Spot is currently 1.5530 with immediate resistances 1.5574, 1.5616 and 1.5649