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20 Mar 2013
Forex: GBP/USD eases further on Bernanke comments
FXstreet.com (Barcelona) - The sterling is extending its correction lower on increasing buying interest in the greenback after the FOMC statement.
Among other issues, Chief B.Bernanke signalled that Cyprus’s situation however difficult would pose no threat to the US economy, and he emphasized the recent improvement of the labour market.
Recall that the BoE minutes showed a voting pattern of 6-3 in favour of keeping the asset purchase programme at £375 billion, with Governor M.King and MPC D.Miles once again voting to expand the programme by £25 billion to £400 billion.
At the moment the cross is up 0.17% at 1.5118 with the next resistance at 1.5177 (high Mar.15) ahead of 1.5186 (high Mar.20) and then 1.5200 (high Mar.5).
On the flip side, a breach of 1.5026 (low Mar.20) would open the door to 1.5022 (MA10d) and finally 1.4965 (low Mar.17).
Among other issues, Chief B.Bernanke signalled that Cyprus’s situation however difficult would pose no threat to the US economy, and he emphasized the recent improvement of the labour market.
Recall that the BoE minutes showed a voting pattern of 6-3 in favour of keeping the asset purchase programme at £375 billion, with Governor M.King and MPC D.Miles once again voting to expand the programme by £25 billion to £400 billion.
At the moment the cross is up 0.17% at 1.5118 with the next resistance at 1.5177 (high Mar.15) ahead of 1.5186 (high Mar.20) and then 1.5200 (high Mar.5).
On the flip side, a breach of 1.5026 (low Mar.20) would open the door to 1.5022 (MA10d) and finally 1.4965 (low Mar.17).