GBP/USD: UK to moderately recover in 2013, indicates BCC

January 8, 2013

GBPUSD Movement

For the 24 hours to 23:00 GMT, GBP rose 0.34% against the USD and closed at 1.6122.

In the UK, the Lloyds Bank reported that employment confidence came in unchanged at a reading of -42.0 in December, compared to the previous month.

In the Asian session, at GMT0400, the pair is trading at 1.6110, with the GBP trading marginally lower from yesterday’s close.

Data released this morning indicated that BRC’s retail sales rose 0.3% (YoY) in December, lower than the 0.4% increase recorded in the previous month. Meanwhile, the British Chambers of Commerce (BCC) has indicated that business sentiment in the UK has risen “markedly” in the last quarter of 2012 and expects the economy to grow modestly in early 2013.

The pair is expected to find support at 1.6045, and a fall through could take it to the next support level of 1.5979. The pair is expected to find its first resistance at 1.6152, and a rise through could take it to the next resistance level of 1.6195.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Publication source
GCI information  GCI reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

FxPro Rating
Larson&Holz IT Ltd Rating
XM Rating
Tickmill Rating
Orbex Rating
NPBFX Rating

UKoptions Rating
Empire Option Rating
GTOptions Rating
IQ Option Rating
OptionRally Rating
Binary.com Rating