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12 Jul 2013
GBP/USD continues slide into Europe
FXstreet.com (Barcelona) - Having largely ranged overnight with support at 1.5167, GBP/USD has pushed lower this morning, declining to where it currently trades at 1.5129.
The pair was capped at 1.5200 last night and has drifted lower moving into the European open. With the arrival of Carney as new BoE Governor, the market will likely take some time to ascertain his intentions, but informed opinion suggests that forward guidance will be deployment alongside devaluation strategies. Ahead this morning we have EU Industrial Production at 09:0 GMT and The Michigan Sentiment Index at 13:55 GMT.
GBP/USD may see technical downside
Mataf.net analysts are neutral on the pair in the short term, noting support below at 1.5060 and 1.4980. Ahead they see resistance at 1.5155 and 1.5190. Presently, hourly Stochastics have dipped into oversold territory, while RSI looks to have found support at the 50 mark. Danske Bank strategists are anticipating a move lower to 1.5060 where they can foresee a good buying opportunity for investors, with stops at 1.5055.
The pair was capped at 1.5200 last night and has drifted lower moving into the European open. With the arrival of Carney as new BoE Governor, the market will likely take some time to ascertain his intentions, but informed opinion suggests that forward guidance will be deployment alongside devaluation strategies. Ahead this morning we have EU Industrial Production at 09:0 GMT and The Michigan Sentiment Index at 13:55 GMT.
GBP/USD may see technical downside
Mataf.net analysts are neutral on the pair in the short term, noting support below at 1.5060 and 1.4980. Ahead they see resistance at 1.5155 and 1.5190. Presently, hourly Stochastics have dipped into oversold territory, while RSI looks to have found support at the 50 mark. Danske Bank strategists are anticipating a move lower to 1.5060 where they can foresee a good buying opportunity for investors, with stops at 1.5055.