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13 Feb 2014
GBP/USD claiming a three-year high
FXStreet (Guatemala) - GBP/USD scored a new high at 1.6675 but has since backed down into the 1.6650’s.
Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said "Sterling's gains, extending yesterday's rally, are understandable. Simply put, the market is pricing in risk that the BOE hikes rates earlier than the BOE thinks, though the debt market is consolidating after big moves yesterday.There is a relatively wide premium over Germany for 10-year bonds. The BOE and CBI have revised higher growth forecasts."
GBP/USD Levels
The 20 DMA is 1.6457, the 50 DMA is 1.6425 and the 200 DMA is 1.5854. RSI (14) reads 63.42. Supports are 1.6488, 1.6510, 1.6559, 1.6572, 1.6620. Spot is 1.6647 while resistances are 1.6667, 1.6694 and 1.6747.
Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said "Sterling's gains, extending yesterday's rally, are understandable. Simply put, the market is pricing in risk that the BOE hikes rates earlier than the BOE thinks, though the debt market is consolidating after big moves yesterday.There is a relatively wide premium over Germany for 10-year bonds. The BOE and CBI have revised higher growth forecasts."
GBP/USD Levels
The 20 DMA is 1.6457, the 50 DMA is 1.6425 and the 200 DMA is 1.5854. RSI (14) reads 63.42. Supports are 1.6488, 1.6510, 1.6559, 1.6572, 1.6620. Spot is 1.6647 while resistances are 1.6667, 1.6694 and 1.6747.