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18 Mar 2014
GBP/USD making fresh lows ahead of packed week
FXStreet (Guatemala) - GBP/USD has penetrated the downside again and has made further ground on the offer into the week.
Sterling has sold off to 1 month lows on rumours and reports of Russian troops storming a Ukrainian base in Simferopol. Next up this week, markets will focus their attention towards the releases of jobless data, the BoE minutes that will be followed by Osborne's budget announcement to the Parliament tomorrow and the growth forecasts that are expected to be revised higher. Today, BoE Governor Carney is speaking at a Cass Business School event in London, beginning at 5:45pm GMT. Strategists at TD Securities explained that it’s unlikely we’ll hear anything new though. “Carney already testified on the Inflation Report to the Parliamentary Treasury Committee just last week and he has said that the focus of the talk will instead be on revealing the results of the McKinsey & Co study commissioned last year on reforming the internal structure of the Bank”.
GBP/USD Levels
The 20 DMA is 1.6667, the 50 DMA is 1.6552 and the 200 DMA is 1.6016. RSI (14) reads 30.42. Supports are ascending from 1.6538 and 1.6565. Spot is 1.6567 while resistances are 1.6605, 1.6667, 1.6689, 1.6719 and 1.6787.
Sterling has sold off to 1 month lows on rumours and reports of Russian troops storming a Ukrainian base in Simferopol. Next up this week, markets will focus their attention towards the releases of jobless data, the BoE minutes that will be followed by Osborne's budget announcement to the Parliament tomorrow and the growth forecasts that are expected to be revised higher. Today, BoE Governor Carney is speaking at a Cass Business School event in London, beginning at 5:45pm GMT. Strategists at TD Securities explained that it’s unlikely we’ll hear anything new though. “Carney already testified on the Inflation Report to the Parliamentary Treasury Committee just last week and he has said that the focus of the talk will instead be on revealing the results of the McKinsey & Co study commissioned last year on reforming the internal structure of the Bank”.
GBP/USD Levels
The 20 DMA is 1.6667, the 50 DMA is 1.6552 and the 200 DMA is 1.6016. RSI (14) reads 30.42. Supports are ascending from 1.6538 and 1.6565. Spot is 1.6567 while resistances are 1.6605, 1.6667, 1.6689, 1.6719 and 1.6787.