9 Oct 2013
GBP/USD dropping sharply through key support
FXstreet.com (London) - GBP/USD is down on the session by 0.95% from a high of 1.6124 and printing a low of 1.5923.
Research teams at TD Securities noted the data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower”. The teams at TD Securities went onto say, “The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”.
GBP/USD Levels
The 20 DMA is 1.6037, the 50 DMA is 1.5728 and the 200 DMA is 1.5480. RSI (14) reads 20. Resistances are 1.5955,1.5980, 1.5999, 1.6006, 1.6112, 1.6135 and 1.6179.
Research teams at TD Securities noted the data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower”. The teams at TD Securities went onto say, “The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”.
GBP/USD Levels
The 20 DMA is 1.6037, the 50 DMA is 1.5728 and the 200 DMA is 1.5480. RSI (14) reads 20. Resistances are 1.5955,1.5980, 1.5999, 1.6006, 1.6112, 1.6135 and 1.6179.