Back
18 Jun 2013
GBP/USD failed again at 200d ma
FXstreet.com (London) - GBP/USD is printing much lower on the London open having failed to hold onto the 200d ma.
1.5650 would close the gap on the chart after Fridays fall to a low of 1.5616 and Mondays Asian open above 1.5700. Today is busy on the calendar as we head into the FOMC tomorrow. Key data to monitor will be US CPI and housing starts in the afternoon, while coming up this morning prior to those releases, UK core CPI is expected at 2.1% vrs a previous 2%.
GBP/USD key levels
Karan Jones, Analyst at Commerzbank had previously suggested that the 200 d ma would be a tuff area to crack for the pair. With the reversal, she also said a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5364 en route to the support line at 1.5054. As turbulent as we have seen how these markets can be of late, above Thursday’s 1.5736 high lies the 1.5782 61.8% retracement of this years move, 1.5794 200 week moving average is located here and beyond here lies 1.6040, the 78.6% Fibonacci retracement of the down move seen this year.
1.5650 would close the gap on the chart after Fridays fall to a low of 1.5616 and Mondays Asian open above 1.5700. Today is busy on the calendar as we head into the FOMC tomorrow. Key data to monitor will be US CPI and housing starts in the afternoon, while coming up this morning prior to those releases, UK core CPI is expected at 2.1% vrs a previous 2%.
GBP/USD key levels
Karan Jones, Analyst at Commerzbank had previously suggested that the 200 d ma would be a tuff area to crack for the pair. With the reversal, she also said a break below the 1.5490 June 7 low is needed to alleviate immediate upside pressure and signal a slide back to the 55 day moving average at 1.5364 en route to the support line at 1.5054. As turbulent as we have seen how these markets can be of late, above Thursday’s 1.5736 high lies the 1.5782 61.8% retracement of this years move, 1.5794 200 week moving average is located here and beyond here lies 1.6040, the 78.6% Fibonacci retracement of the down move seen this year.