Back
21 Oct 2014
GBP/USD hovers around 1.6050
FXStreet (Córdoba) - GBP/USD trades little changed on the day ahead of the Wall Street opening, as failure to break above the 1.6185 area left Cable searching for direction.
Despite disappointing UK data, GBP/USD setback was limited, contained by the 1.6140 area, as investors hesitate in the absence of triggers or drivers. At time of writing, GBP/USD is trading at 1.6160, flat on the day.
Meanwhile, EUR/GBP fell to a 1-week low of 0.7890 from an early Europe high of 0.7941, weighed by reports the ECB could begin purchasing corporates bonds December.
GBP/USD levels to watch
As for technical levels, if GBP/USD breaks above 1.6185, next resistances could be faced at 1.6198/1.6200 (50.0% Fibo of 1.6523-1.5873/psychological level) and 1.6225 (Oct 9 high). On the flip side, immediate supports are seen at 1.6140 (intraday low), 1.6100 (psychological level) and the 1.6084/1.6079 area (10-day SMA/Oct 20 low).
Despite disappointing UK data, GBP/USD setback was limited, contained by the 1.6140 area, as investors hesitate in the absence of triggers or drivers. At time of writing, GBP/USD is trading at 1.6160, flat on the day.
Meanwhile, EUR/GBP fell to a 1-week low of 0.7890 from an early Europe high of 0.7941, weighed by reports the ECB could begin purchasing corporates bonds December.
GBP/USD levels to watch
As for technical levels, if GBP/USD breaks above 1.6185, next resistances could be faced at 1.6198/1.6200 (50.0% Fibo of 1.6523-1.5873/psychological level) and 1.6225 (Oct 9 high). On the flip side, immediate supports are seen at 1.6140 (intraday low), 1.6100 (psychological level) and the 1.6084/1.6079 area (10-day SMA/Oct 20 low).