Posts Tagged "GBP"

GBP/USD

Posted by Svetlin Minev on Jul 4, 2011 in Forex Analysis | 0 comments

While I was counting waves in other pairs the Pound held steady at its current levels. There are concerns over the economic slowdown and how long it will last, which will force BOE to hold rates at their current levels despite inflation fears. This means that BOE statements on its inflation stance might be the main market movers. Support for the cable comes from Asian investors who use it to fill in their Euro and Aussie portfolios. Support is at 1.5910, 1.5830, 1.5750. Resistance at 1.6120,...