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Forex: GBP/USD in red below 1.6250

By FXstreet.com,  January 02, 2013, 12:51:00 PM EDT

FXstreet.com (Barcelona) - The sterling is following its European counterpart on Wednesday, falling from levels shy of 1.6400 to the actual 1.6235/40 region as risk appetite is shrinking.
The pound has found extra support during the morning in Europe, after the UK manufacturing PMI has surprised traders climbing to 51.4 during December, beating both forecasts and previous reading.

At the moment, the pair is losing 0.06% at 1.6237 with the next support at 1.6192 (MA10d) followed by 1.6162 (MA21d) and 1.6067 (low Dec.27).
On the other hand, a breakout of 1.6380 (hourly high Jan.2) would expose 1.6455 (high Aug.29 2011) and then 1.6535 (high Aug.24 2011).




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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