FXstreet.com (Barcelona) - Having gone up to 1.5924 high during the Asian session, the pair became lighter as time passed by and then a selling wave took care of sending the GBP/USD back to the 1.5900 mark, although allowing a quick bounce during the London opening.
At the time of writing, the market is calm and trades sideways under a very strict range nearby 1.5900. No economic data in the UK will be available today, but construction output in the Eurozone was just released. The monthly figure dropped by -1.4% in September (+0.7% previously) and the annualized contraction was narrowed from -5.5% to -2.6%.
“Above 1.5915, we look for GBP/USD to struggle below 1.6060, the 55 day moving average”, wrote Commerzbank analyst Axel Rudolph, pointing to 1.5521 in case of failure at 1.5770.
At the time of writing, the market is calm and trades sideways under a very strict range nearby 1.5900. No economic data in the UK will be available today, but construction output in the Eurozone was just released. The monthly figure dropped by -1.4% in September (+0.7% previously) and the annualized contraction was narrowed from -5.5% to -2.6%.
“Above 1.5915, we look for GBP/USD to struggle below 1.6060, the 55 day moving average”, wrote Commerzbank analyst Axel Rudolph, pointing to 1.5521 in case of failure at 1.5770.
