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12 Jun 2013
GBP/USD eyes 1.5650 ahead of UK data
FXstreet.com (Barcelona) - The GBP/USD is trading in a narrow range on Wednesday, hovering over the mid 1.56s ahead of the employment figures in the British economy during April.
GBP/USD would keep its momentum
The jobless rate in the UK is expected to stay put at 7.8% in the three months ended in April while the Claimant Count Change would drop by 5.0K in the same period. The sterling would thus see a continuation of the positive results as of late, underpinning its momentum. Ahead in the day, MPC member Paul Fisher is expected to give a speech.
GBP/USD levels to watch
At the moment, the pair is up 0.03% at 1.5652 with the next hurdle waiting at 1.5685 (high Jun.6) and then 1.5690 (high Feb.13). On the downside, a breach of 1.5488 (low Jun.7) would open the door to 1.5426 (61.8% of 1.5008-1.4685) and then 1.5390 (MA10d).
GBP/USD would keep its momentum
The jobless rate in the UK is expected to stay put at 7.8% in the three months ended in April while the Claimant Count Change would drop by 5.0K in the same period. The sterling would thus see a continuation of the positive results as of late, underpinning its momentum. Ahead in the day, MPC member Paul Fisher is expected to give a speech.
GBP/USD levels to watch
At the moment, the pair is up 0.03% at 1.5652 with the next hurdle waiting at 1.5685 (high Jun.6) and then 1.5690 (high Feb.13). On the downside, a breach of 1.5488 (low Jun.7) would open the door to 1.5426 (61.8% of 1.5008-1.4685) and then 1.5390 (MA10d).