• 
• See all for FXstreet.com
• View Print Version

FXstreet.com (Barcelona) - Sterling bearishness is intensifying on Friday, ahead of the US NFP due later. Mixed data out of the British economy have done little to counteract the prevailing pessimism around the risk related assets, leaving the pound to the mercy of the results in the US economy.

In the view of I.Spivak, Currency Strategist at DailyFX, "prices turned lower from resistance at the 1.63 figure after putting a Shooting Star candlestick coupled with negative RSI divergence. Sellers have now cleared initial resistance-turned-support at 1.6177 and aim to clear the next barrier at 1.6099. The 1.5951-1.60 area lines up as the next key support below that. A push beneath this region initially eyes the November 15 low at 1.5822. The 1.6177 level has been recast as resistance once again.

GBP/USD is losing 0.49% at 1.6026 and the next support levels line up at 1.6012 (Lower Bollinger) ahead of 1.6002 (low Dec.7) and 1.5988 (low Nov.30).
On the flip side, resistance levels are located at 1.6159 (MA21d) ahead of 1.6255 (high Jan.3) and then 1.6298 (Upper Bollinger).

Related Forex and Currencies Articles

• 
  Crude oil plunges to 3-week low on U.S., China PMI data
  5/23/2013 07:28 AM
• 
  U.S. new home sales rise 2.3% in April to 454,000
  5/23/2013 07:27 AM
• 
  Forex - EUR/USD near session highs in volatile trade
  5/23/2013 07:27 AM