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5 Aug 2013
GBP/USD eases lower as uptrend falters
FXstreet.com (New York) - The GBP/USD foreign exchange rate has eased lower during US trading, gradually inching back towards the 1.5300 level Monday.
GBP/USD event risk
The GBP/USD faces a busy week ahead, with the UK Manufacturing and Industrial production slated for release tomorrow, coupled with the NIESR GDP estimate. In addition, Wednesday will be dominated by the BoE Quarterly Inflation report and Mark Carneys address to Parliament.
Presently, the GBP/USD remains in positive territory at 1.5320, still up +0.18% above it’s opening. On the upside, resistances will trigger for the pair at 1.5356, onto 1.5435, and 1.5562, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD touched above support level 1.5250 then rebounded to the upside, as the current upside move got it closer to 61.8% correction at 1.5395. Breaching the referred to level and stabilizing above it with four-hour closing might trigger another bullish wave, especially that Linear Regression Indicators support this positivity. We should point out that Stochastic is showing intraday overbought signals, which are not important unless the pair breaks 1.5280 levels.”
GBP/USD event risk
The GBP/USD faces a busy week ahead, with the UK Manufacturing and Industrial production slated for release tomorrow, coupled with the NIESR GDP estimate. In addition, Wednesday will be dominated by the BoE Quarterly Inflation report and Mark Carneys address to Parliament.
Presently, the GBP/USD remains in positive territory at 1.5320, still up +0.18% above it’s opening. On the upside, resistances will trigger for the pair at 1.5356, onto 1.5435, and 1.5562, notes the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD touched above support level 1.5250 then rebounded to the upside, as the current upside move got it closer to 61.8% correction at 1.5395. Breaching the referred to level and stabilizing above it with four-hour closing might trigger another bullish wave, especially that Linear Regression Indicators support this positivity. We should point out that Stochastic is showing intraday overbought signals, which are not important unless the pair breaks 1.5280 levels.”