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Alert - 09:50 (CET) - GbpUsd
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The Sterling was once against punished against the Dollar, as we wait for macro data from the UK in December, that should show a deeper contraction in the manufacturing sector. This way, the BoE is feeling more pressure to cut rates in this month's meeting.
The GbpUsd is trading at 1.4560 Dollars per Pound. This session, the pair is ranging from 1.4503 to 1.4830, under yesterday's close at 1.4678. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.4500 (key), 1.4346 (April 19th 2002 low) and 1.4000 (key). The resistances are being watched at 1.5000 (key), 1.5534 (November 25th high) and 1.6000 (key).
Given the positive opening in the Asian and European stocks, we're watching a renewed appetite for high yielders, giving the Sterling a chance to find an intrasession support.
Checking the daily graphics, the current price is over the 23.60% (1.3701) and under the 38.20% (1.5767) Fibonacci retracement lines. The average volatility per hour is 360 pips and the 60-minute Relative Strenght Index (RSI) is at 48 points, rebounding from the overbought area.
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