26 Nov 2013
GBP/USD retains supporting zone 1.6140
FXstreet.com (London) - GBP/USD attempted the upside overnight with a pop at the 1.62 handle but failed when heavy supply took the pair back to the supporting zone 1.6140.
Strategists at TD Securities noted that the BoE’s Carney, Bean, and Dale are testifying before the Treasury Committee. “However, there has been little new in terms of monetary policy with the tone similar to that of the Inflation Report press conference a couple of weeks ago. In fact, much of the new news have has surrounded financial policy rather than monetary policy following the release of public letters sent between the Governor and Chancellor where it was revealed that the FPC would conduct a review into the leverage ratio. Carney stated that he expected the Basel committee to agree a definition of the details of how leverage is defined in January and he expects the review to take a year, though the BIS does not expect to formally complete all the details around leverage ratios until 2017/18”.
GBP/USD Levels
The 20 DMA is 1.6065, the 50 DMA is 1.6076 and the 200 DMA 1.5518. RSI (14) 39.47. Supports are ascending from 1.6060, 1.6072, 1.6093 and 1.6118. Spot is currently 1.6150 while resistances are 1.6178, 1.6205, 1.6223 and 1.6241.
Strategists at TD Securities noted that the BoE’s Carney, Bean, and Dale are testifying before the Treasury Committee. “However, there has been little new in terms of monetary policy with the tone similar to that of the Inflation Report press conference a couple of weeks ago. In fact, much of the new news have has surrounded financial policy rather than monetary policy following the release of public letters sent between the Governor and Chancellor where it was revealed that the FPC would conduct a review into the leverage ratio. Carney stated that he expected the Basel committee to agree a definition of the details of how leverage is defined in January and he expects the review to take a year, though the BIS does not expect to formally complete all the details around leverage ratios until 2017/18”.
GBP/USD Levels
The 20 DMA is 1.6065, the 50 DMA is 1.6076 and the 200 DMA 1.5518. RSI (14) 39.47. Supports are ascending from 1.6060, 1.6072, 1.6093 and 1.6118. Spot is currently 1.6150 while resistances are 1.6178, 1.6205, 1.6223 and 1.6241.