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29 Apr 2013
Forex: GBP/USD bouncing off 1.5520
FXstreet.com (Barcelona) - The sterling remains trading in a narrow range after the opening bell in London on Monday with upside attempts well contained around 1.5540 and pullbacks finding bids in the vicinity of 1.5520 so far.
In the opinion of Jane Foley, Strategist at Rabobank, “With both the USD and the EUR under pressure, sterling may have an opportunity to perform better this week. There is no BoE policy meeting scheduled until May 9 and we now expect steady policy from the BoE this month, with any more policy moves this year likely to be delayed until after Carney’s July arrival”.
At the moment, the cross is up 0.27% at 1.5531 with the next hurdle at 1.5544 (high Feb.14) ahead of 1.5550 (high Feb.150 and finally 1.5574 (MA100d).
On the downside, a break below 1.5418 (low Apr.26) would open the door to 1.5334 (MA10d) and then 1.5300 (MA21d).
In the opinion of Jane Foley, Strategist at Rabobank, “With both the USD and the EUR under pressure, sterling may have an opportunity to perform better this week. There is no BoE policy meeting scheduled until May 9 and we now expect steady policy from the BoE this month, with any more policy moves this year likely to be delayed until after Carney’s July arrival”.
At the moment, the cross is up 0.27% at 1.5531 with the next hurdle at 1.5544 (high Feb.14) ahead of 1.5550 (high Feb.150 and finally 1.5574 (MA100d).
On the downside, a break below 1.5418 (low Apr.26) would open the door to 1.5334 (MA10d) and then 1.5300 (MA21d).