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7 Oct 2013
GBP/USD up on profit taking; quiet ahead of MPC?
FXstreet.com (London) - GBP/USD is higher on profit taking, forming a gap to the upside on the charts.
GBP/USD is otherwise quiet while the US governmental shutdown has the markets moving at a snails pace as we await some form of progress in talks. Investec research teams commented with GBP slightly out of the picture until the MPC later on in the week: “The US shutdown continues to rumble on with both political parties hardening their negotiation stances, in the midst of this Treasury Secretary Jack Lew warned that politicians were “playing with fire” if they do not act quickly to resolve the impasse and give him authority to borrow more. In currency markets the US Dollar has suffered as a result of the shutdown, with investors favouring the Euro and Yen”.
GBP/USD Levels
The 20 DMA is 1.5999, the 50 DMA is 1.5696 and the 200 DMA is 1.5481. RSI (14) reads 52.24. Supports are ascending from 1.5942, 1.5955, 1.5980, 1.5999 and 1.6038. Spot is currently 1.6086 while resistances are 1.6135, 1.6153 and 1.6179.
GBP/USD is otherwise quiet while the US governmental shutdown has the markets moving at a snails pace as we await some form of progress in talks. Investec research teams commented with GBP slightly out of the picture until the MPC later on in the week: “The US shutdown continues to rumble on with both political parties hardening their negotiation stances, in the midst of this Treasury Secretary Jack Lew warned that politicians were “playing with fire” if they do not act quickly to resolve the impasse and give him authority to borrow more. In currency markets the US Dollar has suffered as a result of the shutdown, with investors favouring the Euro and Yen”.
GBP/USD Levels
The 20 DMA is 1.5999, the 50 DMA is 1.5696 and the 200 DMA is 1.5481. RSI (14) reads 52.24. Supports are ascending from 1.5942, 1.5955, 1.5980, 1.5999 and 1.6038. Spot is currently 1.6086 while resistances are 1.6135, 1.6153 and 1.6179.