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AceTraderFx Aug 27: Intra-Day Market Moving News & Views GBP/USD
Intra-Day Market Moving New and Views
27 Aug 2014 08:43GMT
GBP/USD - ..... Despite a marginal breach of yesterday's low at 1.6539 to 1.6537 at Asian open, lack of follow-through selling triggered short-covering and the British pound rose to 1.6575 in early European morning. However, renewed selling emerged there and pressured the pair lower to 1.6554. Further choppy trading is likely to be seen ahead of NY open due partly to the absence of eco. data releases from UK.
Offers have now been raised to 1.6590/00 and more above at 1.6610/15 with stops building up above there whilst initial bids are noted at 1.6520/30.
This morning trading cable was tricky on Tue as despite an initial rebound from 1.6566 to 1.6595 in Asia, renewed broad-based strength in greenback capped intra-day gain and the pound later fell in tandem with euro to 1.6540 near NY close.
Price briefly weakened to 1.6537 shortly after Asian open on renewed decline in eur/usd, however, bids above Monday's fresh 4-1/2 month low at 1.6535 lifted price.
Bids are noted at 1.6540-35 with stop below 1.6530 but demand fm real money accounts are touted near 1.6500/05. On the upside, offers are located at 1.6560/70 and more at 1.6590/00 with stop reported abv 1.6620, therefore, selling cable on intra-day recovery is the way to go. No U.K. data are due out today, so the pound shud track intra-day move in eur/usd.
Intra-Day Market Moving New and Views
27 Aug 2014 08:43GMT
GBP/USD - ..... Despite a marginal breach of yesterday's low at 1.6539 to 1.6537 at Asian open, lack of follow-through selling triggered short-covering and the British pound rose to 1.6575 in early European morning. However, renewed selling emerged there and pressured the pair lower to 1.6554. Further choppy trading is likely to be seen ahead of NY open due partly to the absence of eco. data releases from UK.
Offers have now been raised to 1.6590/00 and more above at 1.6610/15 with stops building up above there whilst initial bids are noted at 1.6520/30.
This morning trading cable was tricky on Tue as despite an initial rebound from 1.6566 to 1.6595 in Asia, renewed broad-based strength in greenback capped intra-day gain and the pound later fell in tandem with euro to 1.6540 near NY close.
Price briefly weakened to 1.6537 shortly after Asian open on renewed decline in eur/usd, however, bids above Monday's fresh 4-1/2 month low at 1.6535 lifted price.
Bids are noted at 1.6540-35 with stop below 1.6530 but demand fm real money accounts are touted near 1.6500/05. On the upside, offers are located at 1.6560/70 and more at 1.6590/00 with stop reported abv 1.6620, therefore, selling cable on intra-day recovery is the way to go. No U.K. data are due out today, so the pound shud track intra-day move in eur/usd.