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23 Mar 2016

GBP/USD downside finds support at 1.4160

The sterling’s decline seems to have found some respite around the 1.4160 area vs. the dollar, with GBP/USD coming down from overnight tops near 1.4220.

GBP/USD lower on USD, ‘Brexit’

The pair is accelerating its daily downside today and extending the rejection from recent multi-week peaks just above the 1.4500 handle posted on Friday, in a context where renewed jitters on ‘Brexit’ and a continuation of the buying interest around the dollar keep weighing on GBP.

In the data space, UK’s Retail Sales are due tomorrow ahead of the festivities of Good Friday and Easter Monday. In the US calendar, New Home Sales are due later ahead of the EIA report and Friday’s Q4 GDP figures.

GBP/USD levels to consider

As of writing the pair is down 0.27% at 1.4167 facing the next support at 1.4053 (low Mar.16) followed by 1.4028 (23.6% Fibo of 1.4670-1.3833) and then 1.3833 (2016 low Feb.29). On the other hand, a surpass of 1.4301 (55-day sma) would open the door to 1.4471 (76.4% Fibo of 1.4670-1.3833) and finally 1.4517 (high Mar.18).
Mar 23, 2016

Pound weakened by more than the Euro - Investec

Research Team at Investec, suggests that the economic data released yesterday was overshadowed by the tragic events in Brussels yesterday morning.
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Mar 23, 2016

Germany’s ‘wise men’ revise inflation forecasts lower

Germany’s council of economic experts, popularly known as ‘wise men’, published a sharp downward revision of inflation forecasts, coupled with a slight downward revision of GDP forecasts.
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