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Forex: GBP/USD threatening 1.6050

By FXstreet.com,  January 04, 2013, 02:42:00 AM EDT

FXstreet.com (Barcelona) - The sterling is following the depressed risk appetite on Friday, extending its descent since the tops in the boundaries of 1.6400 on Wednesday, actually challenging the mid 1.60s.
The unexpected hawkish tone out of yesterday's FOMC minutes has accelerated the downside in GBP, taking a toll on the rest of the risk-associated assets.

Interesting day ahead for the pound as Services PMI will be released, as well as the Consumer Credit, M4 Money Supply, Mortgage Approvals and Net Lending to Individuals.

GBP/USD is losing 0.285 at 1.6061 at the moment, and a drop below 1.6020 (Lower Bollinger) would expose 1.5999 (low Dec.10) and then 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).




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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