FXstreet.com (Buenos Aires) – With stocks and comodities nose diving since US data release, the Spanish bank’s audit has come to show the banking system needs between €25 and 62 billion to recapitalize the nation's banks according to independent assessments made by Oliver Wyman and Roland Berger. Therefore, the 100B bailout agreed a couple of weeks ago, should be enough for now. However, the strong risk aversion sentiment that rules the markets continues, and majors are finding little relief on the news, as US indexes hold near daily lows, and the GBP/USD trades slightly above the weekly low of 1.5614 posted on Tuesday.
The pair broke below the strong Fibonacci level of 1.5660 that held the downside for the past two days, with immediate support at mentioned 1.5614, while below, next support comes at 1.5563, past June 14th daily high. A recovery above 1.2660 will see next resistances at 1.5700 figure, and 1.5735 today’s high.
The pair broke below the strong Fibonacci level of 1.5660 that held the downside for the past two days, with immediate support at mentioned 1.5614, while below, next support comes at 1.5563, past June 14th daily high. A recovery above 1.2660 will see next resistances at 1.5700 figure, and 1.5735 today’s high.
