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Forex: GBP/USD regains 1.6050

By FXstreet.com,  January 07, 2013, 02:44:00 AM EDT

FXstreet.com (Barcelona) - The sterling has rapidly left the 1.6020 region to climb to the vicinity of 1.6050 on Monday, as risk aversion is taking a breather.
Key week for the GBP ahead as the BoE will hold its monetary policy meeting, although the FX community expects the central bank to leave both the lending benchmark and the APP unchanged at 0.5% and £375 billion, respectively.

At the moment the cross is down 0.12% at 1.6055 and a break below 1.6012 (Lower Bollinger) would open the door to 1.6002 (low Dec.7) and then 1.5988 (low Nov.30).
On the upside, resistance levels are located at 1.6159 (MA21d) ahead of 1.6255 (high Jan.3) and 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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