5 Nov 2013
GBP/USD heading for a close in key 1.60 handle
FXstreet.com (London) - GBP/USD has held the bounce from 1.5860/90 support and is up 0.46% at 1.6049.
UK data in services PMI were in line with consensus that gave Sterling a lift. ISM Non-Manufacturing PMI (Oct) was also very good out of the US but despite the number 55.4 vs 54.0 consensus, Sterling remains bid. However, the BoE on Thursday is a risk as well as the NFP’s at the end of the week.
GBP/USD Levels
The 20 DMA is 1.6064, the 50 DMA is 1.5948 and the 200 DM is 1.5487. RSI (14) reads 77.46. Supports are ascending from 1.5829, 1.5844, 1.5869, 1.5894, 1.5935, 1.5977, 1.5999 and 1.6015. Spot is currently 1.6049 and next resistances is 1.6079.
UK data in services PMI were in line with consensus that gave Sterling a lift. ISM Non-Manufacturing PMI (Oct) was also very good out of the US but despite the number 55.4 vs 54.0 consensus, Sterling remains bid. However, the BoE on Thursday is a risk as well as the NFP’s at the end of the week.
GBP/USD Levels
The 20 DMA is 1.6064, the 50 DMA is 1.5948 and the 200 DM is 1.5487. RSI (14) reads 77.46. Supports are ascending from 1.5829, 1.5844, 1.5869, 1.5894, 1.5935, 1.5977, 1.5999 and 1.6015. Spot is currently 1.6049 and next resistances is 1.6079.