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GBP/USD eyeing 1.30- will it give way?
On Friday the Pound continued its journey higher towards the 1.30 handle. As expressed here in a number of update in recent days, that was the preferred destination here for the Pound since it busted out above its 200 week moving average (now in place at 1.2849). The high seen on the GBP/USD on Friday was set at 1.2991. The Pound later closed out the week in the US at 1.2988. The range seen so far today has been covered by 1.2958 to 1.2984. The earlier drop back towards 1.2950 came as the dollar rebounded during the Asian session, led by the USD/JPY bouncing back towards 158.50, but that has so far blown out for the time being. The GBP/USD is currently trading at 1.2976
Market News
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EUR/GBP stalls ahead of technical resistance level
Data released earlier today showed the UK government missed its borrowing target last month and that has put a bit more pressure onto UK government...
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Canadian retail sales in the spotlight for the USD/CAD this afternoon
As noted here much earlier this morning, there are no US economic releases due out today. There is one North American one of note though and that is...
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DAX falls below 22,819 as global stock markets retreat
Following on from recent updates looking at the US equity futures and the DAX after the opening, the German index has now crumbled again. It has now...
