22 Jan 2014
GBP/USD warming up for 1.65?
FXstreet.com (Edinburgh) - The GBP/USD remains in the upper band of the weekly range, navigating near 1.6480/85 ahead of key releases in the British economy.
GBP/USD all eyes on the u-rate
The BoE will publish its minutes from the last MPC meeting, with investors assessing the likeliness of a rate hike by the central bank sooner than previously estimated. The other relevant release will be the ILO unemployment rate, expected to drop to 7.3% in the three months ended in November, closer to the BoE’s 7.0% threshold. “We continue to have a stronger GBP against EUR as one of our main views for 2014 and we would recommend to use any GBP weakness to buy the currency”, recommended Pernille Nielsen, Analyst at Danske Bank.
GBP/USD levels to watch
As of writing the pair is up 0.02% at 1.6476 and a breakout of 1.6508 (high Jan.13) would target 1.6518 (high Jan.10). On the flip side, the immediate support aligns at 1.6400 (low Jan.21) followed by 1.6396 (low Jan.20) and then 1.6309 (low Jan.17).
GBP/USD all eyes on the u-rate
The BoE will publish its minutes from the last MPC meeting, with investors assessing the likeliness of a rate hike by the central bank sooner than previously estimated. The other relevant release will be the ILO unemployment rate, expected to drop to 7.3% in the three months ended in November, closer to the BoE’s 7.0% threshold. “We continue to have a stronger GBP against EUR as one of our main views for 2014 and we would recommend to use any GBP weakness to buy the currency”, recommended Pernille Nielsen, Analyst at Danske Bank.
GBP/USD levels to watch
As of writing the pair is up 0.02% at 1.6476 and a breakout of 1.6508 (high Jan.13) would target 1.6518 (high Jan.10). On the flip side, the immediate support aligns at 1.6400 (low Jan.21) followed by 1.6396 (low Jan.20) and then 1.6309 (low Jan.17).