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Forex: GBP/USD finds support at daily pivot point

By FXstreet.com,  January 08, 2013, 05:17:00 AM EDT

FXstreet.com (Barcelona) - Having declined from the overnight high at 1.6130, GBP/USD has found support at the daily pivot point around 1.6085.

This morning has seen a glut of European data, with German Trade Balance and Import/Export numbers disappointing forecasts. The French equivalents came in better alongside Italian Unemployment, EU Consumer Confidence. The EU Unemployment rate held at 11.8% and Retail Sales were mixed. Spot looks to be resting on pivot and undecided on whether to continue its decline or retrace the morning move lower. Hourly RSI is 46 and ranging.




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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