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5 Aug 2013
GBP/USD continues lower
FXstreet.com (Barcelona) - GBP/USD’s advances this morning after positive services PMI have reversed.
GBP/USD has drifted from the highs as 1.5381 and is currently printing 1.5335 ahead of this afternoons data that will arrive in the form of US ISM Non-Manufacturing (Jul) at 2GMT. The pair will not await the BoE iflation report as the BoE rate decision last week wasn’t accompanied by an statement.
GBP/USD mixed
Should GBP fail to continue to the upside, the gap between 1.5160 and here looks vulnerable. And “then a loss of 1.5100 would suggest further losses to the 1.5015 May low and 1.4854/32 support zones. Intraday rallies are likely to remain capped by the 1.5356 resistance line and only should 1.5435 be eroded (not favoured) we will have to allow for further upside gains to 1.5551 the 78.6% retracement”,said Karen Jones, Head of FICC Technical Analysis at Commerzbank
GBP/USD has drifted from the highs as 1.5381 and is currently printing 1.5335 ahead of this afternoons data that will arrive in the form of US ISM Non-Manufacturing (Jul) at 2GMT. The pair will not await the BoE iflation report as the BoE rate decision last week wasn’t accompanied by an statement.
GBP/USD mixed
Should GBP fail to continue to the upside, the gap between 1.5160 and here looks vulnerable. And “then a loss of 1.5100 would suggest further losses to the 1.5015 May low and 1.4854/32 support zones. Intraday rallies are likely to remain capped by the 1.5356 resistance line and only should 1.5435 be eroded (not favoured) we will have to allow for further upside gains to 1.5551 the 78.6% retracement”,said Karen Jones, Head of FICC Technical Analysis at Commerzbank