More from FXstreet.com

Forex: GBP/USD sits around 1.5550 ahead of Europe

By FXstreet.com,  June 15, 2012, 12:28:00 AM EDT

FXstreet.com (San Francisco) - GBP/USD has so far traded a very limited range bound by 1.5535 and 1.5560 this Friday in Asia, after the overnight session saw the pair gain 0.4% on the day despite a late US session statement from the BoE saying that the central bank is considering more policy easing.

This week, the cross operated mostly in consolidation mode, trading as high as 1.5596 and as low as 1.5451 after last week's bounce from ascending trendline support at 1.5360, measured from the 18 Jan 2009/9 May 2010 troughs. GBP/USD last trades at 1.5545, poised to close up 0.5% on the week.

In the European session ahead, the April UK Goods Trade Balance will be released at 08:30 GMT, which will serve as fundamental risk event for GBP.




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

Referenced Stocks:



Latest News Video



Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%