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May 7, 2013
Forex: GBP/USD holding steady around 1.5540/45
FXstreet.com (Barcelona) - The sterling is trading almost unchanged against the greenback on Tuesday, hovering over the area of 1.5540/45.
Interesting week for the pound ahead, as the BoE MPC meeting will be on the limelight on Thursday, seconded by Industrial/Manufacturing Production, the NIESR GDP Estimate and the Trade Balance figures.
“Critical resistance at 1.5606, a closing break above this would be positive opening the way to 1.5689 and 1.5789. Support is at 1.5481 ahead of 1.5402”, commented G.Yu and G.Berry, Strategists at the Swiss lender UBS.
As of writing, the pair is gaining 0.01% at 1.5544 with the next resistance at 1.5603 (high May 3) followed by 1.5607 (high May 1) and finally 1.5690 (high Feb.13).
On the downside, a breach of 1.5505 (low May 3) would expose 1.5480 (low May 3) and then 1.5467 (low Apr.30).
Interesting week for the pound ahead, as the BoE MPC meeting will be on the limelight on Thursday, seconded by Industrial/Manufacturing Production, the NIESR GDP Estimate and the Trade Balance figures.
“Critical resistance at 1.5606, a closing break above this would be positive opening the way to 1.5689 and 1.5789. Support is at 1.5481 ahead of 1.5402”, commented G.Yu and G.Berry, Strategists at the Swiss lender UBS.
As of writing, the pair is gaining 0.01% at 1.5544 with the next resistance at 1.5603 (high May 3) followed by 1.5607 (high May 1) and finally 1.5690 (high Feb.13).
On the downside, a breach of 1.5505 (low May 3) would expose 1.5480 (low May 3) and then 1.5467 (low Apr.30).