Sterling failed to recover from early weakness…


By on December 20th, 2005.
Connect with this author on

Sterling failed to recover from early weakness brought about by the EU budget rebate and comments from MPC member Charles Bean. We have public finance figures out at 09:30 this morning, followed by PPI in the US at 13:30. Tomorrow’s release of the last MPC vote could give sterling further direction for the remainder of this week. It’s likely that all none members voted for “no change”, so any votes for a cut will be taken as a negative, placing further pressure on the pound.

GBPEUR – Support 1.4650-60 then 1.4600
Resistance 1.4750, then 1.4775

GBPUSD – Support 1.7575 then 1.7500
Resistance 1.7700 then 1.7745, 1.7810

DATA: UK Public sector net cash requirement 09:30
US PPI 13:30

Related posts:

  1. Reason for sterling’s weakness yesterday…
  2. The Dollar made a new high against the Euro in early trade yesterday…
  3. Greenspan’s comments failed to have much effect on the dollar…
  4. Trichet’s remarks failed to give a clear indication of a near term rate hike…
  5. Serious Euro weakness overnight…

© TorFX. Unauthorised copying or re-wording of this blog content is prohibited. The copyright of this content is owned by Tor Currency Exchange Ltd. Any unauthorised copying or re-wording will constitute an infringement of copyright.

Archives