GBP/USD - 1.6275.. Cable was unable to penetrate y'day's NY 1.6306 high after rising to 1.6302 in Asia morning on release of Gfk index. Focus will be on U.K.'s Q2 GDP due out at 08:30GMT with consensus forecast of a drop of 0.8% q/q n decline 5.6% y/y. Traders are to be reminded that sterling has been hammered in last 4 trading days at London opening n y'day's price action also repeated this pattern too. Fresh offers are seen at 1.6290/00 n stops (sizeable) are reported abv 1.6310 with more placed at 1.6330/40, while bids are tipped at 1.6230/40 n 1.6200 with stops emerging below latter lvl.
Join the Discussion