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Forex: GBP/USD hovering over 1.6050

By FXstreet.com,  January 09, 2013, 02:37:00 AM EDT

FXstreet.com (Barcelona) - The lack of direction in the GBP is leaving the sterling around the 1.6050 level on Wednesday, ahead of the trade balance figures due later. Market consensus expects the trade deficit to narrow to £9.05 billion during November from £9.539 billion in the previous month.

At the moment, the pair is losing just 0.02% at 1.6051 with the next support at 1.6040 (Lower Bollinger) ahead of 1.6022 (low Jan.7) and then 1.6010 (low Jan.4).
On the other hand, a break above 1.6129 (hourly high Jan.8) would open the door to 1.6165 (MA21d) en route to 1.6255 (high Jan.3).




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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