FXstreet.com (Barcelona) - The sterling is keeping the positive tone after the Nationwide index rose 0.3% MoM in May, although still in the contraction area on a yearly basis, -0.7%.
The cross has dropped almost two big figures since yesterday’s highs, on spiraling concerns reagarding the euro zone and its posible spillover effects on the rest of the markets.
Recent better-than-expected data in the British economy was totally offset by the crisis in the euro bloc, with market participants now focusing on the BoE monetary policy meeting due next week.
GBP/USD is up 0.04% at 1.5480 as of writing, facing the next hurdle at 1.5608 (low May 29) follwed by 1.5713 (MA10d) then 1.5735 (hourly low May 23) and 1.5850 (high May 22).
On the downside, a penetration of 1.5415 (low Jan.19) would open the door to 1.5327 (low Jan.18) then 1.5273 (low Jan.16) and 1.5234 (low Jan.13).
The cross has dropped almost two big figures since yesterday’s highs, on spiraling concerns reagarding the euro zone and its posible spillover effects on the rest of the markets.
Recent better-than-expected data in the British economy was totally offset by the crisis in the euro bloc, with market participants now focusing on the BoE monetary policy meeting due next week.
GBP/USD is up 0.04% at 1.5480 as of writing, facing the next hurdle at 1.5608 (low May 29) follwed by 1.5713 (MA10d) then 1.5735 (hourly low May 23) and 1.5850 (high May 22).
On the downside, a penetration of 1.5415 (low Jan.19) would open the door to 1.5327 (low Jan.18) then 1.5273 (low Jan.16) and 1.5234 (low Jan.13).
