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5 Aug 2013
GBP/USD stabilizing around 1.5350
FXstreet.com (Edinburgh) -The sterling found a new comfort zone around 1.5350, driving the GBP/USD a bit lower after hitting fresh intraday highs in the boundaries of 1.5380 on better Services PMI for July.
GBP/USD decoupling from the EUR
The pound reacted with an abrupt ascent after the Services PMI in the UK exceeding estimates, while the opposite occurred with the single currency despite the Sentix index improved in July. In light of the upcoming events, analysts at RBS argued, “The focus this week is Wednesday’s (7th August) Inflation Report. With respect to the adoption of forward guidance and intermediate thresholds, we believe that GBP will be particularly sensitive to 1) what the intermediate threshold variable is and where the trigger level is placed”.
GBP/USD key levels
The pair is now advancing 0.37% at 1.5349 facing the next hurdle at 1.5416 (high Jul.26) followed by 1.5435 (high Jul.25) and then 1.5480 (high Jun.25). On the flip side, a dip below 1.5259 (low Aug.5) would open the door to 1.5254 (high Jul.31) and then 1.5243 (high Aug.1).
GBP/USD decoupling from the EUR
The pound reacted with an abrupt ascent after the Services PMI in the UK exceeding estimates, while the opposite occurred with the single currency despite the Sentix index improved in July. In light of the upcoming events, analysts at RBS argued, “The focus this week is Wednesday’s (7th August) Inflation Report. With respect to the adoption of forward guidance and intermediate thresholds, we believe that GBP will be particularly sensitive to 1) what the intermediate threshold variable is and where the trigger level is placed”.
GBP/USD key levels
The pair is now advancing 0.37% at 1.5349 facing the next hurdle at 1.5416 (high Jul.26) followed by 1.5435 (high Jul.25) and then 1.5480 (high Jun.25). On the flip side, a dip below 1.5259 (low Aug.5) would open the door to 1.5254 (high Jul.31) and then 1.5243 (high Aug.1).