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Noticias de trading
6 May 2013
Forex: GBP/USD in a narrow range around 1.5560/65
FXstreet.com (Barcelona) - The inactivity in the UK markets due to the holiday is weighting on the cross, draining its volume and limiting the price action to a narrow range between 1.5560/70 on Monday.
Against the backdrop of the BoE MPC meeting this week, the Analyst M.Mohi-uddin at UBS commented, “The underlying picture of fiscal tightening, weak economic growth, bank deleveraging and stubbornly high trade deficits continues to suggest sterling needs to be lower to help rebalance the economy”.
As of writing, the cross is posting meagre gains at 1.5562 or 0.04% with the next resistance at 1.5603 (high May 3) followed by 1.5607 (high May 1) and finally 1.5690 (high Feb.13).
On the downside, a breach of 1.5505 (low May 3) would expose 1.5480 (low May 3) and then 1.5467 (low Apr.30).
Against the backdrop of the BoE MPC meeting this week, the Analyst M.Mohi-uddin at UBS commented, “The underlying picture of fiscal tightening, weak economic growth, bank deleveraging and stubbornly high trade deficits continues to suggest sterling needs to be lower to help rebalance the economy”.
As of writing, the cross is posting meagre gains at 1.5562 or 0.04% with the next resistance at 1.5603 (high May 3) followed by 1.5607 (high May 1) and finally 1.5690 (high Feb.13).
On the downside, a breach of 1.5505 (low May 3) would expose 1.5480 (low May 3) and then 1.5467 (low Apr.30).