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11 Sep 2013
GBP/USD is stalling with eyes over Syria
FXstreet.com (London) - GBP/USD is failing at the highs 1.5740, while RSI (14) prints 64.79.
The pair has eyes on Syria and tensions around whether or not the conflict can be resolved peacefully. Tomorrow we will see The US Congress voting on military action. Meanwhile, on the data front, UK RICS came in as expected at 40% and markets are anticipating the Inflation Report on Thursday. For the US, data will be light until the end of the week when Retail Sales come in and the Michigan Consumer Sentiment arrives.
GBP/USD bullish bias
Research teams at OCBC note a positive tone to GBP/USD. “GBP/USD may still remain biased higher in the near
term given the weakened state of the labor market numbers on Wed for domestic influences with initial resistance levels expected towards the 1.5730-1.5780 neighborhood while key support is expected towards the 200-day MA 1.5492”
The pair has eyes on Syria and tensions around whether or not the conflict can be resolved peacefully. Tomorrow we will see The US Congress voting on military action. Meanwhile, on the data front, UK RICS came in as expected at 40% and markets are anticipating the Inflation Report on Thursday. For the US, data will be light until the end of the week when Retail Sales come in and the Michigan Consumer Sentiment arrives.
GBP/USD bullish bias
Research teams at OCBC note a positive tone to GBP/USD. “GBP/USD may still remain biased higher in the near
term given the weakened state of the labor market numbers on Wed for domestic influences with initial resistance levels expected towards the 1.5730-1.5780 neighborhood while key support is expected towards the 200-day MA 1.5492”