FXstreet.com (Barcelona) - GBP/USD ranged through the early Asian session before climbing to test Wednesday high at 1.6270.
Only reaching 1.6266, the pair failed but remains in range at 1.6254 where it is currently trading. The morning climb came as a result of some positive risk sentiment off of a report in the FT that the EU and Spanish officials are working on a bailout programme. The move took the pair from its support at 1.6212 to post a high at 1.6266.
Richard Lee, Independent Analyst for FXStreet.com, believes that the “near term prospects (for the pair) remain bearish.” He believes that the failure to mount a test of 1.63 indicates that resistance in the region is too strong and he sees 1.6119 as a near term test.
Calendar wise, the landscape is pretty clear today. We have the Swiss Monthly Stats Bulletin and SNB Quarterly Bulletin at 07:00 GMT and 07:30 GMT and UK Public Sector Borrowing figures for August at 08:30 GMT.
European futures are higher indicating a corresponding open, whilst commodities look like following suit.
Only reaching 1.6266, the pair failed but remains in range at 1.6254 where it is currently trading. The morning climb came as a result of some positive risk sentiment off of a report in the FT that the EU and Spanish officials are working on a bailout programme. The move took the pair from its support at 1.6212 to post a high at 1.6266.
Richard Lee, Independent Analyst for FXStreet.com, believes that the “near term prospects (for the pair) remain bearish.” He believes that the failure to mount a test of 1.63 indicates that resistance in the region is too strong and he sees 1.6119 as a near term test.
Calendar wise, the landscape is pretty clear today. We have the Swiss Monthly Stats Bulletin and SNB Quarterly Bulletin at 07:00 GMT and 07:30 GMT and UK Public Sector Borrowing figures for August at 08:30 GMT.
European futures are higher indicating a corresponding open, whilst commodities look like following suit.
