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22 May 2013
GBP/USD resuming downside in European open
FXstreet.com (London) - The pound slid against the greenback yesterday from 1.5272 to 1.5112 as investors continue to buy into the dollar and while traders abandoned the currency after the release of UK CPI that came in lower than consensus in yesterday’s European session.
The pair covered back some ground in the late afternoon with a high in NA of 1.5192, however the quote is now resuming the downside again in the European open ahead of a busy economic calendar. Today we have the release of BoE minutes coming up at 09.30, Benranke speaking in the afternoon before FOMC minutes in the evening. UK GDP comes tomorrow as well.
At the time of writing, the quote is trading at 1.5145/50 on 1.5115 support followed by 1.5100 and 1.5080. Resistance is 1.5190 and 1.5220.
The pair covered back some ground in the late afternoon with a high in NA of 1.5192, however the quote is now resuming the downside again in the European open ahead of a busy economic calendar. Today we have the release of BoE minutes coming up at 09.30, Benranke speaking in the afternoon before FOMC minutes in the evening. UK GDP comes tomorrow as well.
At the time of writing, the quote is trading at 1.5145/50 on 1.5115 support followed by 1.5100 and 1.5080. Resistance is 1.5190 and 1.5220.