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Forex: GBP/USD finds bids at 1.6010

By FXstreet.com,  January 04, 2013, 02:27:00 PM EDT

FXstreet.com (Barcelona) - After bottoming in the region of 1.6010, the sterling has managed to gather some traction and leave behind the session lows and trade back to the 1.6060 area as of writing.

Moving forward to the next week, the UK docket seems very interesting as the Trade Balance figures will be published on Wednesday preceding Thursday's BoE monetary policy meeting, as the most significant event. In a minor degree of relevance, Friday will also see the Industrial and Manufacturing Production in the British economy.

At the moment, GBP/USD is down 0.28% at 1.6060 facing the next support at 1.6012 (Lower Bollinger) ahead of 1.6002 (low Dec.7) and then 1.5988 (low Nov.30).
On the flip side, a breakout of 1.6159 (MA21d) ahead of 1.6255 (high Jan.3) and then 1.6298 (Upper Bollinger).




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

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