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13 May 2015
GBP/USD: Into a new technical era?
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5727 with a high of 1.5770 and a low of 1.5632.
GBP/USD is settling down after a day on the bid and is running in to some resistance here. The pound has had a good run of late, with elections certified and the greenback dropping away in Q2 without the support of a particularly bullish backdrop in the US economy after a lacklustre performance in Q1 also.
The Fed are still in "we will hike rates" mode but markets are confidant that will not happen in June or until the end of the year based upon the data that has been coming out of late, lifting GBP/USD out of despair and away from the 1.50 handle. Today, Sterling got a lift from the wages and jobs data while Carney delivered a less than bullish report and outlook in the inflation and economic statement and the Bank of England's Quarterly Inflation Report.
These fundamentals put us in to a new technical picture. Karen Jones chief analyst at Commerzbank suggested that, currently, they are unable to rule out a move towards the 1.5897/1.5949 55 and 200 week moving averages.
GBP/USD is settling down after a day on the bid and is running in to some resistance here. The pound has had a good run of late, with elections certified and the greenback dropping away in Q2 without the support of a particularly bullish backdrop in the US economy after a lacklustre performance in Q1 also.
The Fed are still in "we will hike rates" mode but markets are confidant that will not happen in June or until the end of the year based upon the data that has been coming out of late, lifting GBP/USD out of despair and away from the 1.50 handle. Today, Sterling got a lift from the wages and jobs data while Carney delivered a less than bullish report and outlook in the inflation and economic statement and the Bank of England's Quarterly Inflation Report.
These fundamentals put us in to a new technical picture. Karen Jones chief analyst at Commerzbank suggested that, currently, they are unable to rule out a move towards the 1.5897/1.5949 55 and 200 week moving averages.