More from FXstreet.com

Forex: GBP/USD eases to 1.6140 ahead of UK industrial and manufacturing data

By FXstreet.com,  January 11, 2013, 04:20:00 AM EDT

FXstreet.com (Barcelona) - Yesterday's rally following the Euro mood after ECB Draghi's upbeat remarks at the press conference sent the GBP/USD up past the 1.6100 psychological level, and finding its daily high at 1.6179. The market has been easing since that high printed after the US close.

After touching 1.6140 low, the GBP/USD jumped to 1.6166 ahead of the London opening, but such movement was quickly retraced back to its lows. UK industrial and manufacturing production is due right away, as well as a 10-year bond auction.

"Close above previous high at 1.6126, open s way for fresh extension higher and test of initial 1.6200 barrier, ahead of 1.6231, Fib 61.8%", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to initial support lies at 1.6130 zone, and that "further easing should not exceed 1.6100, psychological support and Fib 38.2% of 1.5991/1.6177 rally, to keep bulls intact".




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

Three Money Moves to Beat Back Higher Taxes
Three Money Moves to Beat Back High...
Obama Speaks to Naval Academy Graduates
Obama Speaks to Naval Academy Gradu...
African Union Marks 50 Years
African Union Marks 50 Years        


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%