GBP/USD heading into London 1.5445/60 GBP/USD has closed the gap on the hourly charts, with NY closes above the figure and to open in London steady around 1.5445/60. GBP/USD has recovered from the lows of 1.5343 and gained a big figure when steam was taken out from the dollar by Fed officials dampening the tones of a hawkish FOMC. Fed President Fisher suggested that markets may have overreacted to last week’s more hawkish Fed statement. Markets reacted to his comments and from 22-month highs around 2.66%, 10-year US Treasury yields have ducked back to near 2.54%, eroding some of the ‘fundamental’ support for the USD. Data for the pair today will come in the form of a raft of US numbers later in the afternoon, Durable Goods, Housing Price Index, Consumer Confidence and New Home Sales. And Treasury sec Lew is speaking late in the evening. UK data is BBA Mortgage Approvals that comes at 830GMT. (May) GBP/USD capped Karen Jones at Commerzbank said that near term rallies are expected to remain capped 1.5470/1.5550 for an immediate downside bias to be maintained. Meanwhile, indicators are slightly bullish and we are trading above the pivot of 1.5415. RSI is reading 14 while SMA100 at 1.5481 offers resistance.
Posted on: Tue, 25 Jun 2013 07:09:15 +0000
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