GBPUSD first resistance level is situated at 1.3001



GBPUSD first resistance level is situated at 1.3001

GBPUSD inter-markets: scope for a test of 1.2796?

GBPUSD first resistance level is situated at 1.3001

GBP-USD

GBPUSD first resistance At 09:40 GMT, the pair is trading at 1.2915, with the Pound trading slightly higher against US Dollar from the New York close. Data indicated that, UK’s Rightmove house price index eased on a monthly basis in August. The pair witnessed a high of 1.2944 and a low of 1.2896 during the session. On Friday, the Pound traded 0.72% lower against the US Dollar in the New York session and ended at 1.2909. Immediate downside, the first support level is seen at 1.2863, while on the upside, the first resistance level is situated at 1.3001.
WebEconomia
GBP/USD is accelerating its leg lower today, coming down from monthly peaks in the vicinity of 1.3400 the figure (August 3) and posting gains in only two sessions so far this month.

The selling bias in GBP has been particularly accelerating since the Bank of England has decided to loosen its monetary stance, lowering its benchmark rate by 25 bp and incrementing its asset purchase facility by £60 billion to £435 billion.

Adding to the bearishness around the Sterling, speculative net shorts remained in record levels (beyond 90K contracts) in the week ended on August 9, according to the latest CFTC report.

Adding to the bearishness around the Sterling, speculative net shorts remained in record levels (beyond 90K contracts) in the week ended on August 9, according to the latest CFTC report.

Somehow limiting (or slowing down) Cable’s downside, yields in UK money markets are trading in a ‘sea of green’ across the curve and ahead of key releases this week: July’s CPI (Tuesday), labour market figures (Wednesday) and retail sales (Thursday).

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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