Forex: GBP/USD jumps to 1.5310, intra-day high

FXstreet.com (San Francisco) - After recovering from intra-day bottom at 1.5215, the Sterling traded in recovery mode against the US Dollar with the pair rising to test the 1.5295 resistance. The GBP/USD was rejected initially but after a brief period of retracement to 1.5265, the pair has suddenly jumped to break above the 1.5300 level and test intra-day high at 1.5310.

The GBP/USD is currently trading at 1.5300, 0.35% above opening price. The pair is slightly bullish according to the FXstreet.com trend index with indicators such as CCI and Momentum pointing higher while the Stochastic and MACD are neutral.

As for technical levels, above the 1.5300, next resistances are at 1.5370 (Apr 17 high) and 1.5383 (Apr 15 high). On the other hand, below 1.5213 (intraday low) next support could be found at 1.5200 (psychological level/Apr 5 low).

Apr 18, 2013

Forex Flash: JGB market could damage the yen – UBS

Volatile JGB yields failed to trigger a major selloff by foreigners. Foreign holdings of Japanese bonds were only marginally trimmed by Y176bn last week. “This bears watching though, after all, foreign holdings of Japanese government bonds and T-bills have steadily increased in recent years, and now stand at Y84 trn. That's a big number – more than all the overseas assets of Japan's life insurance industry.” notes Research Analyst Gareth Berry at UBS.

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Apr 18, 2013

Forex: EUR/JPY makes quick +100 pip bounce to 128.66

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